SHUAA Partners Acquisition I in an amended S-1 filing said it now plans to offer 10 million units at $10 each, or 50% less than the 20 million units initially registered in December. A unit still consists of one share and one-half of a warrant.
The fintech-focused SPAC will target companies in the Middle East, North Africa, and Turkey.
SHUAA is led by CEO and director nominee Fawad Tariq Khan, who joined SHUAA Capital in 2014 and has served as a managing director and head of its investment banking group since 2019. He also serves on the board of Northacre, a London-based luxury homebuilder, NCM Investment Company, a global foreign exchange and commodities platform, and Anghami. a music streaming platform listed on the Nasdaq.
BTIG is sole book-running manager of the offering.
The SPAC has applied to list on the Nasdaq under the symbol SHUAU. Read more.
