Plutonian Acquisition filed to raise $50 million through an IPO of 5 million units at $10 each. A unit consists of one share, a warrant and one right to receive one-sixth of a share at the closing of a merger.
The new SPAC in the S-1 said it will search for a target business on companies engaged in metaverse technologies, tourism and e-commerce related industries in the Asia-Pacific, or APAC, region.
Chairman, President and CEO Wei Kwang Ng is an independent director of Redwoods Acquisition, which raised $100 million in April to target carbon neutral and energy companies. He is also assistant vice president of Singapore Post Ltd.
Plutonian has applied to list on the Nasdaq, but has yet to select a ticker symbol. EF Hutton is sole book-running manager. Read more.
