Mericsson Acquisition registered with the SEC to offer 4 million units at $10 each. A unit consists of one Class A ordinary share and one right. Each right entitles the holder to receive one-tenth of one Class A ordinary share upon the consummation of an initial business combination.
The underwriters a 45-day option to purchase up to an additional 600,000 units to cover any over-allotments.
Mericsson intends to target businesses in the media, advertising and entertainment industries that have their primary operations located in Asia.
The SPAC is led by Chairman and CEO Andy Kwok, who is also president and CEO of Guangzhou Baiyun Tangjing Senjiu Trade Company, a commodity-trading company. Kwok additionally serves as president of Hong Kong Heritage Family Holding Co., Ltd, a company specializing in developing and manufacturing dietary supplements and skincare products.
The SPAC has applied to list on the Nasdaq under MLXAU. Read more.
