Maso Capital's SPAC Duddell Street Acquisition files for a $175 million IPO
Duddell Street Acquisition, a blank check company formed by Maso Capital, filed on Thursday with the SEC to raise up to $175 million in an initial public offering.
The Hong Kong, China-based company plans to raise $175 million by offering 17.5 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, Duddell Street Acquisition would command a market value of $219 million.
The company is led by the co-founders of Maso Capital, CEO and Chairman Manoj Jain, President Sohit Khurana, and CFO Allan Finnerty. Jain and Khurana previously served as Managing Directors in the Hong Kong office of Och-Ziff Capital Management. The SPAC intends to target growth companies in Asia with enterprise values between $500 million and $1 billion, focusing specifically on the TMT, healthcare, fintech, and consumer sectors.
Duddell Street Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol DSACU. The company filed confidentially on September 8, 2020. BofA Securities is the sole bookrunner on the deal.
The article Maso Capital's SPAC Duddell Street Acquisition files for a $175 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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