BHAV Acquisition, a blank check company targeting robotics, electric vehicles, drones, unmanned aerial systems, and fintech, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one right to receive one-fourth of one ordinary share upon the consummation of an initial business combination.
BHAV Acquisition is led by CEO and Director Giri Devanur, who is the founder of short-term rental operator reAlpha Tech (Nasdaq: AIRE). He is joined by CFO and Director Chaitanya Kumar Setti, who previously served as a Principal Consultant at Compunnel. The SPAC intends to target businesses in the robotics, electric vehicles, drones, unmanned aerial systems, and fintech industries.
The Piscataway, NJ-based company plans to list on the Nasdaq under the symbol BHAVU. Maxim Group LLC acted as sole bookrunner on the deal.
