SPAC Endeavor Acquisition files for a $225 million IPO, targeting consumer and tech in Southeast Asia

Endeavor Acquisition, a blank check company targeting the consumer and technology sectors in Southeast Asia, filed on Tuesday with the SEC to raise up to $225 million in an initial public offering.

The company plans to raise $225 million by offering 22.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Cantor and its affiliates have expressed interest in purchasing 7.2% of the units in the offering. At the proposed deal size, Endeavor Acquisition would command a market value of $288 million. 

Endeavor Acquisition is led by Co-Chairman, CEO, and CFO Stephen CuUnjieng, the former CEO of Evercore Asia, and Co-Chairman Christopher Po, the Executive Chairman and former CEO of Century Pacific Food (PSE: CNPF). The company plans to leverage management's experience and target growth assets in Asia, with particular focus on Southeast Asia, including high-growth companies within the consumer and technology sectors. The SPAC states that it will not target opportunities in China or Hong Kong.

The New York, NY-based company was founded in 2021 and plans to list on the Nasdaq under the symbol ENACU. Endeavor Acquisition filed confidentially on December 27, 2021. Cantor Fitzgerald and Mizuho Securities are the joint bookrunners on the deal.