Plutonian Acquisition Closes $57.5M IPO with Full Exercise of Over-Allotment

Plutonian Acquisition closed its IPO of 5 million units, plus an additional 750,000 units issued through the full exercise of the underwriters’ over-allotment option. Units list on the Nasdaq under the ticker symbol PLTNU.

Each consists of one share, a warrant and one right to receive one-sixth of a share when the SPAC closes a business combination.

Once the securities begin separate trading, shares, warrants and rights are expected to list under the symbols PLTN, PLTNW, and PLTNR, respectively.

Plutonian intends to focus its search for a target business engaged in metaverse technologies, tourism and e-commerce related industries in the Asia-Pacific, or APAC, region. Chairman, President and CEO Wei Kwang Ng is an independent director of Redwoods Acquisition, which raised $100 million in April to target carbon neutral and energy companies. He is also assistant vice president of Singapore Post Ltd. Read more.

Total
0
Shares
Related Posts
Read More

Graf Acquisition IV Prices $150M IPO

Led by SPAC veteran James Graf, the blank-check company has a broad mandate, able to target a business or businesses in any sector, and may be upsized based on demand or a so-called greenshoe.
IPO
Read More

Blue World Acquisition Closes $92M IPO

Blue World will pursue an acquisition primarily in the marine leisure, cruise, marine infrastructure and engineering, general hospitality, travel and tourism, marine services, logistics and supply chain, offshore energy solutions and related industry segments.