TenX Keane Closes $66M IPO with Partial Exercise of Underwriter’s Over-Allotment Option

TenX Keane Acquisition closed its initial public offering of 6.6 million units at $10 each, including 600,000 units issued through the partial exercise of the underwriter’s over-allotment option, for gross proceeds of $66 million.

Each unit consists of one ordinary share and one right. Each right is good for two-tenths of a share. Units trade on the Nasdaq under the ticker symbol TENKU. When the securities begin separate trading, shares and rights will list under the symbols TENK and TENKR.

Maxim Group was sole book-running manager for the offering.

The SPAC is focused on companies in Asia with an enterprise value of $200 million to $600 million, excluding companies located or operating in mainland China, Hong Kong or Macau. Read more.

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