Quetta Acquisition announced that it closed its initial public offering of 6.9 million units at $10 each, including 900,000 units offered to cover over-allotments, which were fully exercised by the underwriters.
Each unit consists of one share and one-tenth of a right to receive a share of common upon the completion of a business combination.
Units list on the Nasdaq under the ticker symbol QETAU. Once the securities begin separate trading, stock and rights are expected to list under the symbols QETA and QETAR.
The company in its initial registration statement said it intends to focus on businesses in Asia (excluding China, Hong Kong, and Macau) that operate in the financial technology sector.
Quetta is led by Chairman and CEO Hui Chen, whose prior SPAC, Yotta Acquisition, terminated a deal in August with aquaculture company NaturalShrimp. Read more.
