Singapore-based special purpose acquisition companies (SPACs) Vertex Technology Acquisition Corp. (VTAC) and Pegasus Asia are set to launch their initial public offerings later this month, Reuters reported.
Last month, Temasek-backed Vertex Venture Holdings received an eligibility letter to list VTAC on the Singapore Exchange.
Vertex Venture Holdings plans to invest S$30 million (US$22.1 million) in VTAC by purchasing its shares. The VC firm also intends to pour up to US$7.4 million of “at risk” capital through the purchase of warrants in a private placement.
While VTAC is looking to list itself on the Singapore bourse on January 21, Pegasus Asia is set to list in the city-state on January 25.
VTAC, which focuses on cybersecurity, fintech, and other sectors, aims to raise at least S$170 million (US$125 million) from the listing at S$5 (US$3.68) per share.
See also: Why Traveloka may have been wise to give up SPAC route
Currency converted from Singapore dollar to US dollar: US$1 = S$1.36
Editing by Collin Furtado and Lorenzo Kyle Subido
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