Makara Strategic Acquisition in a regulatory filing said it is withdrawing an offering of 25 million units initially registered with the SEC in February 2022. The SPAC cited market conditions for its decision.
Makara had planned to focus on natural resources, clean energy or energy storage sectors in the Americas, Europe or Asia.
Chairman Dr. Amin Badr-El-Din since 2005 has served as the founder and chairman of BADR Investments, a global private investment house investing across various sectors including financial services, sustainable and renewable energy, extractive industries, real estate, engineering, manufacturing, and professional services. BADR Investments’ global reach includes investments in North America, the Pacific Rim, Europe and the Middle East.
EF Hutton was to manage the offering. Read more.
