Singularity Acquisition, a blank check company targeting the technology and tech-enabled sectors in Asia, filed on Tuesday with the SEC to raise up to $100 million.
The Shenzhen, China-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, Singularity Acquisition would command a market value of $130 million.
The company is led by CEO and Director Erlu Lin, a Managing Partner at private equity fund Decent Capital, and CFO Jing Jiang, an Executive Director at Capital Today. The company plans to target businesses primarily in Asia, especially those within the technology and technology-enabled sectors, including SaaS, online video and online video technology, fintech, and smart home technology.
Singularity Acquisition was founded in 2021 and plans to list on the Nasdaq but has not selected a symbol yet (RC ticker: SINGU.RC). The company filed confidentially of June 29, 2021. Tiger Brokers and EF Hutton are the joint bookrunners on the deal.
