Crypto focused SPAC raises $115M in Nasdaq IPO
cointelegraph.comAura FAT Projects Acquisition Corp. (AFARU), a special purpose acquisition company (SPAC), has closed its IPO on Nasdaq and raised $115 million, with a focus on crypto industry assets.
The Cayman Islands-incorporated SPAC raised an impressive $100 million during its April 13 initial public offering (IPO) plus an over-allotment of $15 million, bringing its total to $115 million according to an announcement from the firm on April 19.
It also has funding from sponsorships with Singapore-based financial services firms Aura Group and Fat projects. The SPAC’s website states that it has a presence in Australia, New Zealand, Singapore, Indonesia, Vietnam, Thailand, Malaysia, and the Philippines.
Aura FAT will target acquisitions in the blockchain sector as it has a stated interest in emerging technology companies that deal with Web3, crypto, digital ledger, and e-gaming assets.
On April 1, the Bitcoin (BTC) mining company PrimeBlock announced its merger with the 10x Capital Venture Acquisition Corp II SPAC. The merger is valued at $1.3 billion and will make PrimeBlock a publicly traded company.
Related: Self-regulatory organizations growing alongside new US crypto regulation
Late in March, the Thunder Bridge Capital Partners IV SPAC merged with the Japanese crypto exchange Coincheck to form the Conicheck Group N.V. The merger is valued at $1.25 billion and is expected to be listed on Nasdaq in the second quarter of this year.
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