TMT Acquisition priced its initial public offering of 6 million units at $10 each, with each unit consisting of one ordinary share and one right. The offering was a 20% upsize from the initial 5 million units registered with the SEC in Sepotember.
Each right entitles the holder to receive two-tenths of a share upon completion of a merger.
Units began trading today on the Nasdaq under the ticker symbol TMTCU. Once the securities begin separate trading, ordinary shares and rights will list under the symbols TMTC and TMTCR.
Maxim Group is the sole book-running manager for the offering. Revere Securities is acting as a co-manager for the offering.
The Asia-focused SPAC has not cited any specific sectors it may target, but will not do a deal with companies based in China, Hong Kong or Macau.
TMT is led by Executive Director and Chairman Linan Gong, who since 2017 has served as the executive director at Hong Kong Quasar Securities Co., and Quasar Asset Management, and as the executive director at Hong Kong Dragon Financial Holdings. Read more.
