Technology & Telecommunication Acquisition registered with the SEC to offer 10 million units, each priced at $10 and consisting of one Class A ordinary share and one-half of a warrant.
The sponsor has agreed to purchase up to $5.325 million units.
The new blank-check company intends to focus on technology and telecommunications opportunities in Malaysia with enterprise values of between $100 million and $500 million that are preferably already cash generative. The SPAC in the filing said it will not consider any business located in China or Hong Kong and Macau.
Chairman and CEO Tek Che Ng is director of Bayan Development Sdn Bhd (formerly GE Properties Sdn Bhd), a property developing company.
The SPAC intends to apply for a Nasdaq listing but has not yet selected a ticker symbol. Read more.
