Tech SPAC Aurora Technology Acquisition Prices US$200 Million IPO

Special purpose acquisition company Aurora Technology Acquisition Corp. (Nasdaq: ATAKU) started trading publicly on the Nasdaq Global Market on Monday. The company is seeking to raise US$200 million in its initial public offering.

The offering consists of 20.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share, one purchase warrant, and one-tenth of a right. Each warrant is redeemable for one Class A common share at US$11.50 per share and each whole right equates to one Class A common share at the business combination.

The company units trade on the Nasdaq big board under the symbol “ATAKU”. Once the securities separate, the company shares, warrants and rights will trade under the ticker symbols “ATAK”, “ATAKW”, and “ATAKR”, respectively.

The proposed offering is being managed by Maxim Group as the sole bookrunner, which the company granted a 45-day over-allotment option to purchase additional 3.0 million company units at the same IPO price.

The offering is expected to close on February 9, 2022, subject to customary closing conditions.

The blank check company is being led by Chairman and CEO Zachary Wang. On its target businesses, while it intends to focus on tech companies, it also specifies prioritizing companies founded by Asian or Asian-American entrepreneurs.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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