Forefront Tech Holdings Acquisition, a blank check company targeting blockchain-enabled AI, digital trade identities, and robotics, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, and one-half of one warrant to purchase a share, exercisable at $11.50.
Forefront Tech Holdings Acquisition is led by CEO and Chairman Peter Bilitsch, who previously served as the CEO of Mobiv Acquisition, which merged with electric motorcycle producer SRIVARU Holding (SVMH; -99% from $10 offer price). He is joined by CFO Muk Siew Peng, who previously served as a partner of the Financial Advisory Services team of Deloitte & Touche. The SPAC intends to target businesses in the technology sector, with an emphasis on blockchain-enabled artificial intelligence, digital trade identities and robotics.
The Grand Cayman, Cayman Islands-based company will trade on the Nasdaq under the symbol FTHAU. BTIG acted as sole bookrunner on the deal.
