McLaren Technology Acquisition in an amended S-1 filing disclosed it now plans to offer 17.5 million units, down from the 20 million registered last month.
A unit still consists of one share and one-half of one redeemable warrant.
Within banking, financial services and insurance, the new SPAC will target companies leveraging AI, ML, digital, technology, and fintech.
McLaren Technology is led by Chairman and CEO Sajan Pillai, the general partner of Season Two Ventures and chairman of McLaren Strategic Ventures since September 2019. Prior to that, Pillai was chief executive of UST Global.
Mizuho is sole book-runner for the offering. The underwriters have an option to purchase up to an additional 2.625 units.
The SPAC has applied to list on the Nasdaq under MLAIU. Read more.
