Golden Ventures Acquisition, a blank check company targeting the commodities space, filed on Friday with the SEC to raise up to $100 million.
The Singapore-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Golden Ventures Acquisition would command a market value of $128 million.
The company is led by CEO and Director Manish Dahiya, who is currently the Managing Director of Cue1, a Singapore-based company providing consultancy services in the commodities sector, and Chairman and CFO Mulyadi Tjandra, who is currently a director of fund manager Ascend Capital Advisors. The company plans to target businesses in the commodities space that will be able to capitalize on trends including the continued push towards decarbonization, vehicle electrification, and other clean energy initiatives, and the strong demand for commodities.
Golden Ventures Acquisition was founded in 2021 and plans to list on the NYSE under the symbol GVAC.U. EF Hutton is the sole bookrunner on the deal.
