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SPAC Chardan NexTech Acquisition 2 prices upsized $110 million IPO, targeting disruptive tech

August 11, 2021
CNTQU

Chardan NexTech Acquisition 2, a blank check company formed by Chardan targeting disruptive technologies, raised $110 million by offering 11 million units at $10. The company offered 1 million more units than anticipated. Each unit consists of one share of common stock and three-quarters of a warrant, exercisable at $11.50.

The company is led by Chairman Kerry Propper, the co-founder and Chairman Chardan, and co-founder and managing partner of ATW Partners, and CEO and Director Jonas Grossman, Managing Partner and Head of Capital Markets for Chardan. The company plans to target disruptive technology businesses operating within the financial services, healthcare, real estate services, technology, and software industries.

Chardan NexTech Acquisition 2 plans to list on the Nasdaq under the symbol CNTQU. Chardan Capital Markets acted as a lead manager on the deal.