Spark I Acquisition priced its initial public offering of 10 million units at $10 each. The units list on the Nasdaq and began trading today under the ticker symbol SPKLU. Each consists of one share and one-half of a warrant, with whole warrants exercisable at $11.50 for a share.
The new SPAc was formed by SparkLabs Group.
After the units begin separate trading, shares and warrants are expected to list under the symbols SPKL and SPKLW.
The company said it will likely focus on targets that are late-stage technology startups in Asia, or a U.S. technology company with a strong Asia presence or strategy, with an enterprise value greater than $1 billion.
Cantor Fitzgerald is the sole book-running manager of the offering. Read more.
