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SPAC SHUAA Partners Acquisition I files for a $200 million IPO, targeting tech in the MENAT region

December 23, 2021
SHUAU

SHUAA Partners Acquisition I, a blank check company formed by SHUAA Capital targeting tech in the Middle East, North Africa, and Turkey, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.

The Cayman Islands-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, SHUAA Partners Acquisition I would command a market value of $250 million.

The company is led by CEO and Director Fawad Tariq Khan, a Managing Director of the Investment Banking Group at SHUAA Capital, an asset management and investment banking platform in the Middle East region. The company plans to target the technology space across the high growth markets of the Middle East, North Africa, and Turkey (MENAT) region.

SHUAA Partners Acquisition I was founded in 2021 and plans to list on the Nasdaq under the symbol SHUAU. BTIG is the sole bookrunner on the deal.