SPAC Mana Capital Acquisition increases IPO deal size, now raising $62 million

Mana Capital Acquisition, a blank check company targeting businesses in North America, Europe, and Asia, increased the proposed deal size to raise up to $62 million in an initial public offering. 

The Dover, DE-based company now plans to raise $62 million by offering 6.2 million units at a price of $10. The company had previously filed to offer 6 million units at that same price. Each unit consists of one share of common stock, one right to receive one-seventh of a share of common stock upon completion of an initial business combination, and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Mana Capital Acquisition will raise 3% more in proceeds than previously anticipated.

The company is led by CEO, CFO, and Chairman Jonathan Intrater, a Managing Director in the investment banking department at Ladenburg, Thalmann & Co. The company plans to target businesses operating in North America, Europe and Asia in the healthcare, technology, green economy and consumer products sectors.

Mana Capital Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol MAAQU. Ladenburg Thalmann is the sole bookrunner on the deal.