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Southeast Asia-focused SPAC Fat Projects Acquisition prices $100 million IPO

October 13, 2021
FATPU

Fat Projects Acquisition, a blank check company targeting tech-enabled businesses in Southeast Asia, raised $100 million by offering 10 million units at $10. Each unit contains one share of common stock and one warrant, exercisable at $11.50.

Fat Projects Acquisition is led by Co-CEO and Chairman Tristan Lo, a Managing Partner of start-up investment firm Fat Projects and founder of B2C e-commerce company Mums.sg, and Co-CEO, CFO, and Director David Andrada, who is also a Managing Director at Fat Projects. The company aims to use its experience to target technology-led businesses with operations or potential operations in Southeast Asia. Fat Projects Acquisition may target companies with operations in supply chain, transportation, logistics, finance, sustainability/ESG, food, agriculture, e-commerce, or big data.

Fat Projects Acquisition plans to list on the Nasdaq under the symbol FATPU. EF Hutton acted as sole bookrunner on the deal.