Asia-focused SPAC Nova Vision Acquisition prices $50 million IPO

Nova Vision Acquisition, a blank check company targeting businesses in Asia, raised $50 million by offering 5 million units at $10. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one warrant to purchase one-half of a share, exercisable at $11.50.

The company is led by CEO, CFO, and Director Eric Wong, who currently serves as a Senior Advisor at Third Generation Capital and previously was an EVP at Living Style Group, and Chairman Wing-Ho Ngan, the co-founder and Chairman of QFPay Japan and co-founder and former CEO of QFPay International and Alchemy Global Payment Solutions. The company plans to target businesses in Asia (excluding China), focusing on those in the PropTech, FinTech, ConsumerTech, and Supply Chain Management industries, or technology companies that serve these or other sectors.

Nova Vision Acquisition plans to list on the Nasdaq under the symbol NOVVU. EF Hutton, and Brookline Capital Markets acted as joint bookrunners on the deal.