Fat Projects Acquisition priced its IPO of $100 million, consisting of 10 million units at $10 each.
Units begin trading today on the Nasdaq under FATPU. Each consists of one Class A ordinary share and one warrant. Once the securities begin separate trading, shares and warrants are expected to list under FATP and FATPW.
The SPAC intends to focus on targets with operations or prospective operations that are technology-led in the areas of supply chain, transportation, logistics, finance, sustainability, ESG, food, agriculture, e-commerce, big data and/or targets that are taking advantage of the monetization opportunities stemming from a rapidly growing middle class and their evolving consumption and digital needs in Southeast Asia.
EF Hutton is sole book-running manager for the offering. The underwriters have an option to purchase up to an additional 1.5 million units to cover over-allotments, if any.
The offering is expected to close Oct. 15. Read more.
