Maso Capital's SPAC Duddell Street Acquisition prices $175 million IPO at $10

Duddell Street Acquisition, a blank check company formed by Maso Capital targeting global growth companies, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by the co-founders of Maso Capital, CEO and Chairman Manoj Jain, President Sohit Khurana, and CFO Allan Finnerty. Jain and Khurana previously served as Managing Directors in the Hong Kong office of Och-Ziff Capital Management. The SPAC intends to target growth companies in Asia with enterprise values between $500 million and $1 billion, focusing specifically on the TMT, healthcare, fintech, and consumer sectors.

Duddell Street Acquisition plans to list on the Nasdaq under the symbol DSACU. BofA Securities acted as the sole bookrunner on the deal.