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COVA Acquisition Corp. (COVAU) Prices Upsized $261M IPO


COVA Acquisition Corp. (COVAU) Prices Upsized $261M IPO

COVA Acquisition Corp. announced the pricing of its upsized $261 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “COVAU” Friday, February 5.

The new company aims to combine with a high-growth internet, ecommerce, or software business based in Southeast Asia. COVA is led by Chairman, CEO and CFO Jun Hong Heng alongside President Karanveer Dhillon.

Total SPAC deal count for 2021 year-to-date is now 110 with $32.1 billion in gross proceeds raised. This offering is expected to close on Tuesday, February 9.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering with Odeon Capital Group LLC serving as co-manager. Orrick, Herrington & Sutcliffe LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.