Aura FAT Projects Acquisition, a blank check company targeting Web 3.0, crypto, fintech, and other emerging tech in Southeast Asia and Australasia, 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 Singapore-based company is led by Co-CEO and Chairman Tristan Lo and Co-CEO, CFO, and Director David Andrada, who serve as Managing Partners of start-up investment firm Fat Projects. The pair's previous SPAC, Fat Projects Acquisition (FATPU), went public this past October and is still searching for a target.
The company plans to target new emerging technologies such as Web 3.0, blockchain, cryptocurrency, digital ledger, e-gaming, and other fintech and services sectors. It plans to focus on opportunities in the emerging markets of Southeast Asia (such as Singapore, Indonesia, Vietnam, Thailand, Malaysia and the Philippines), Australia, and New Zealand. It will not pursue opportunities in China.
Aura FAT Projects Acquisition plans to list on the Nasdaq under the symbol AFARU. EF Hutton acted as sole bookrunner on the deal.
