TradeUP Acquisition Corp. announced the pricing of its $40 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “UPTDU” Thursday, July 15.
The new SPAC aims to combine with a technology target preferable with operations in the automotive or automotive-related, semiconductor, artificial intelligence, digital health, e-commerce and education sectors. TradeUP is led by Co-CEO and Chairman Mr. Jianwei Li, Co-CEO Mr. Weiguang “James” Yang, and CFO Ms. Luqi “Lulu” Wen.
Total SPAC deal count for 2021 year-to-date is now 371. This offering is expected to close on Monday, July 19.
EF Hutton, a division of Benchmark Investments, LLC, is serving as the sole book-running manager for the offering. Hunter Taubman Fischer & Li LLC is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Friedman LLP serves as auditor. Wilmington Trust, National Association is acting as trustee.
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...