A SPAC I Acquisition in an amended S-1 filing said it will now offer 6 million unitds at $10 each, down from the 8 million units initially planned in July.
A unit now consists of one share, three-fourths of a warrant and one right to receive one-twentieth of a share.
CEO, CFO and Director Claudius Tsang was co-head of private equity, North Asia of Templeton Asset Management and a partner of Templeton Private Equity Partners, part of Franklin Templeton Investments.
Chardan is sole book-running manager.
The new SPAC will target the technology and e-commerce industries with a focus in Asia and on companies with an enterprise value of between $250 million and $600 million, excluding any company in China.
A SPAC I has applied for a Nasdaq listing under the symbol ASCAU. Read more.
