Magnum Opus Acquisition, a blank check company formed by L2 Capital targeting the consumer, technology, and media sectors, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The Hong Kong-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Magnum Opus Acquisition would command a market value of $250 million.
The company is led by CEO and Chairman Jonathan Lin, President Frank Han, and CFO and Director Kevin Lee, the founders and Partners of L2 Capital, a private investment that aims to invest primarily in emerging industry leaders in the Greater China consumer and TMT sectors. The company plans to target businesses in the global consumer, technology, or media sectors with disruptive growth potential through the use of technology, focusing on those that can benefit from operations in Asia, with enterprise values between $700 million and $1.5 billion.
Magnum Opus Acquisition was founded in 2021 and plans to list on the NYSE under the symbol OPA.U. The company filed confidentially on February 2, 2021. Credit Suisse is the sole bookrunner on the deal.
The article Asia-based investment firm's SPAC Magnum Opus Acquisition files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.