SPAC Aurora Technology Acquisition prices $200 million IPO, targeting Asian and Asian-American businesses

Aurora Technology Acquisition, a blank check company targeting tech businesses formed by Asian or Asian-American entrepreneurs, raised $200 million by offering 20 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 warrant, exercisable at $11.50.

Aurora Technology Acquisition is led by CEO and Chairman Zachary Wang, the founder and CEO of Ascan Investments; CFO and Co-Vice Chair Yida Gao, the founder and lead investor at venture fund Shima Capital; and COO and Co-Vice Chair Cathryn Chen, the founder and CEO of pre-IPO investment platform MarketX.

Aurora Technology Acquisition plans to leverage management's experience and target high-growth technology companies based in Asia and North America that were founded by Asian or Asian-American entrepreneurs. These technologies include but are not limited to artificial intelligence, blockchain, quantum computing, and electric vehicles. The company will not target opportunities in China.

Aurora Technology Acquisition plans to list on the Nasdaq under the symbol ATAKU. Maxim Group LLC acted as sole bookrunner on the deal.