Crypto SPAC Raises $100 Million – Trustnodes
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One of the first crypto focused special purpose acquisition company (SPAC), has raised $115 million in an Initial Public Offering (IPO).
Aura FAT Projects Acquisition Corp. debuted on Nasdaq under the ticker of AFARU at a price of $10.00 per share for 10 million units, with demand being sufficiently high for another 1,500,000 to be issued.
The SPAC itself is incorporated in the Cayman Islands and states that it is not limited to any particular industry. However, they make their intentions clear in a filing by stating:
“The Company intends to focus its search on new emerging technology companies with an acute growth potential in Southeast Asia and Australasia in sectors such as the Web 3.0, blockchain, cryptocurrency, digital ledger, e-gaming and other new financial technology and services sectors.”
The SPAC is by Fat Projects, a Singapore based investment and venture studio established in 2015.
They’re now to bring to stock markets some unknown crypto entity, with there being some crypto exchanges in Asia that could potentially go public.
Cryptocurrency
