SPAC Evergreen Corporation prices $100 million IPO, targeting tech in Southeast Asia

Evergreen Corp, a blank check company targeting tech-focused businesses 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 is led by CEO and Chairman Liew Choon Lian, the founder and CEO of the MDT Group of Companies.

The company plans to target mid-market and emerging growth technology-focused companies in the ASEAN region, particularly those involved in AI, FinTech and Financial Services, the Metaverse, the IoT, e-commerce, social commerce, Industry 4.0, as well as areas surrounding the new digital economy.

Evergreen Corp plans to list on the Nasdaq under the symbol EVGRU. EF Hutton acted as sole bookrunner on the deal.