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FinTech and InsurTech SPAC Abri SPAC I files for a $50 million IPO

July 15, 2021

Abri SPAC I, a blank check company targeting FinTech and InsurTech businesses, filed on Thursday with the SEC to raise up to $50 million.

The Beverly Hills, CA-based company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. At the proposed deal size, Abri SPAC I would command a market value of $65 million.

The company is led by CEO and Chairman Jeffrey Tirman, who currently serves as the CEO of Luxembourg-based KJK Sports and Slovenia-based Elan d.o.o. Tirman is also the founder of private investment and corporate advisory firm Abri Advisors. The company plans to target businesses that power transformation and provide disruptive technological innovation in a range of traditionally managed industries, with particular emphasis on FinTech and the InsurTech subsector. 

Abri SPAC I was founded in 2021 and plans to list on the Nasdaq under the symbol ASPAU. The company filed confidentially on June 25, 2021. Chardan Capital Markets is the sole bookrunner on the deal.