Asia-focused SPAC TMT Acquisition files for a $50 million IPO

TMT Acquisition, a blank check company targeting businesses in Asia, filed on Wednesday with the SEC to raise up to $50 million in an initial public offering.

The New York, NY-based company plans to raise $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-half of a warrant, exercisable at $11.50. At the proposed deal size, TMT Acquisition would command a market value of $66 million.

The company is led by Chairman Linan Gong, the former CEO of China Daqing M&H Petroleum, and CEO Dajiang Guo, who serves as a Managing Director at Revere Securities and previously was a Partner at Tiger Securities and China Bridge Capital. The company plans to target businesses in Asia with strong management teams and potential for revenue and earnings growth, among other characteristics.

TMT Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol TMTCU. Maxim Group LLC is the sole bookrunner on the deal.