Westin Acquisition, a blank check company targeting businesses in the APAC region with significant growth prospects, raised $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one right to receive one-sixth of a share upon the completion of an initial business combination.
Westin Acquisition is led by CEO and Chairman Kok Peng Na, who currently serves as Group Head of Deposits at Standard Chartered Bank in Singapore. The SPAC plans to target businesses with significant growth prospects, and while it will look globally for targets, it highlights management's experience investing and building businesses in the Asia Pacific (APAC) region.
Westin Acquisition plans to list on the Nasdaq under the symbol WSTNU. A.G.P. acted as sole bookrunner on the deal.
