SUMA Acquisition, a blank check company targeting technology in North America, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering.
The Toronto, Canada-based company plans to offer 15 million units at a price of $10. Each unit consists of one share of common stock and rights to one-tenth of a share.
SUMA Acquisition is led by CEO and Director Naseem Saloojee, who previously co-founded e-commerce platform Carbon6 Technologies and served as Managing Partner of Noetic Psychedelic Fund. He is joined by CFO and Director David King, the founder and Managing Member of Palermo Capital Management.
The SPAC may pursue an business combination in any industry or geography, but intends to focus its search in the technology industry in North America, including both next generation and legacy areas.
The Toronto, Canada-based company was founded in 2025 and plans to list on the Nasdaq under the symbol SUMAU. Seaport Global is the sole bookrunner on the deal.
