Harvard Ave Acquisition, a blank check company led by executives from PE firm Plutus Partners in South Korea, raised $145 million by offering 14.5 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
The company had originally filed to raise $250 million in February 2025, before lowering the deal size to $180 million in July.
Based in Seoul, South Korea, Harvard Ave Acquisition is led by CEO and Director Sung Hyuk Lee and CFO and Director Hoon Ji Choi, who serve as CEO and Managing Director of private equity and high-value asset brokerage firm Plutus Partners, respectively.
The SPAC plans to target businesses with strong management teams, long-term revenue visibility, and defensible market positions, among other characteristics.
Harvard Ave Acquisition plans to list on the Nasdaq under the symbol HAVAU. D. Boral Capital acted as sole bookrunner on the deal.
