Super Plus Acquisition Upsizes Deal by 20% Ahead of $60M IPO

IPO

Super Plus Acquisition in an amended S-1 said it will now offer 6 million units to raise capital for the acquisition of a company in Asia or North America. The SPAC in its initial registration last September planned to offer 5 million units.

Each unit still consists of one share and half a warrant, plus the addition of one right good for one-tenth of a share.

The SPAC said its goal is to acquire a growth-oriented business in Asia or North America with an enterprise value between $100 million and $300 million. 

Super Plus is led by Chairman and CEO Long Yi, who from January 2018 to March 2021was CEO and chairman of Urban Tea.

Maxim is managing the offering.

The SPAC still intends to apply for a Nasdaq listing, although it has yet to select a ticker symbol. Read more.

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