Generation Asia I Acquisition Limited announced the pricing of its $200 million IPO and its units are expected to begin trading on the NYSE under the symbol “GAQ.U” Thursday, January 20.
The new SPAC intends to focus its search on companies with operations or prospective operations in sectors across Asia. Generation Asia I is led by CEO and Chairman Roy Kuan, COO Norimitsu Niwa, and CFO Catherine Kwok.
Total SPAC deal count for 2022 year-to-date is now 18. This offering is expected to close on Monday, January 24.
Nomura is acting as the sole book-running manager for the offering. Simpson Thacher & Bartlett LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. Marcum Bernstein & Pinchuk LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
As the month closes, the urgency among teams to get shareholder approval for more time to finalize business combinations continues to grow. The deadline for completing these combinations is increasingly extended as teams face rising timelines and gradually diminishing trust funds due to multiple extensions. Extension Votes April, much like the previous months, has seen...
At the SPAC of Dawn Of the days with potential to shake up the market with news this week, today is the big one. Markets are currently anticipating a “near-zero” chance of any changes in the Fed’s rate-cut schedule coming out of today’s meeting. But, other news could come in a change in policy on...
The pace of de-SPACs making it to their lock-up expirations is set to roughly remain level with last month as May’s batch includes five companies and six sponsors set to be released. This group features a high number of Asia-based deals including its headline performer, SunCar Technology (NASDAQ:SDA), which last closed at $7.91. Earlier this...
DT Cloud Star (NASDAQ:DTSQU) filed an S-1 to raise $60 million as the second SPAC by its sponsor team, but this venture would be the 13th foray by underwriter Alliance Global Partners and the first under its new branding as AGP. However, three of those initial filings have subsequently been withdrawn. Nonetheless, AGP is offering...
At the SPAC of Dawn Tuesday brings another packed day in a packed week of potentially market-moving events and individual SPAC actions. The market today will take in the update on US consumer confidence readings as well as the employment cost index and Treasury’s decision on its quarterly refunding plans. An unusually large portion of...