Andina Acquisition Corporation decreases proposed IPO deal size

Andina Acquisition (ANDAU), a blank check company focused on acquiring businesses in Colombia, lowered the proposed deal size for its upcoming IPO on Monday. The Bogota, Colombia-based company now plans to raise $40 million by offering 4 million units at $10.00. The company, which made its initial filing in November 2011, had previously planned to offer 5 million units. Andina Acquisition plans to list on the NASDAQ under the symbol ANDAU. EarlyBird Capital is the lead underwriter on the deal.