SPAC Aetherium Acquisition prices $100 million IPO, targeting education in Asia

Aetherium Acquisition, a blank check company targeting the education and edtech industries in Asia, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. The company originally planned to offer units containing one share of common stock and one-half of a warrant.

The company is led by CEO and Chairman Jonathan Chan, the founder and Managing Partner of Vigilant Assets and the founder and CEO of education technology company Jules Corporation, and CFO Alex Lee, a Managing Director of Vigilant Assets. The company plans to target businesses in the education, training, and education technology (edtech) industries, focusing on those in Asia with enterprise values between $200 million and $1 billion.

Aetherium Acquisition plans to list on the Nasdaq under the symbol GMFIU. EF Hutton acted as sole bookrunner on the deal.