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Data and internet tech SPAC Data Knights Acquisition files for a $100 million IPO

March 9, 2021

Data Knights Acquisition, a blank check company focusing on the data centers and internet technology sectors, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.

The Chessington, United Kingdom-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, one-half of a warrant exercisable at $11.50, and one right to receive one-tenth of a share upon the completion of the initial business combination. At the proposed deal size, Data Knights Acquisition would command a market value of $129 million.

The company is led by CEO and Chairman Barry Anderson, the CEO of Present D'Lloyd Technologies, and CFO Firdauz Mokhtar, who serves as SVP, Special Project of Group CEO Office at Serba Dinamik. The company plans to leverage its management team's experience and target the data centers and internet technology sectors, focusing on businesses built on disruptive technologies and business platforms.

Data Knights Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol DKDCU. Kingswood Capital Markets is the sole bookrunner on the deal.