Tech SPAC Maquia Capital Acquisition prices downsized $160 million IPO

Maquia Capital Acquisition, a blank check company targeting tech-focused middle market and emerging growth businesses in North America, raised $160 million by offering 16 million units at $10. The company offered 4 million fewer units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by CEO Jeff Ransdell, the founder and Managing Director of Fuel Venture Capital; COO Guillermo Cruz, the founder of agricultural private equity firm Maquia Capital and the CEO and a Partner of ACAD & Board Solutions; CFO Jeronimo Peralta, the Managing Partner and CIO of Maquia Capital; and CIO Maggie Vo, General Partner and CIO of Fuel Venture Capital. The company plans to target technology-focused middle market and emerging growth businesses operating in North America with total enterprise values between $200 million and $1 billion.

Maquia Capital Acquisition plans to list on the Nasdaq under the symbol MAQCU. Kingswood Capital Markets acted as a lead manager on the deal.