IPOs

SPAC Neo Technology Acquisition files for a $40 million IPO, targeting Asia and North America

Neo Technology Acquisition, a blank check company targeting businesses in Asia and North America, filed on Monday with the SEC to raise up to $40 million.

The New York, NY-based company plans to raise $40 million by offering 4 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination. At the proposed deal size, Neo Technology Acquisition would command a market value of $53 million.

The company is led by President and Chairwoman Yajing Li, who is currently a director of real estate investment at Guohua Life Insurance, and CEO Leslie Chow, co-founder ZHEN, a blockchain app for art authentication, and the CFO of biotech Phase Scientific International. The company plans to target businesses in Asia and North America.

Neo Technology Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol NFTTU. The company filed confidentially on June 25, 2021. Maxim Group LLC is the sole bookrunner on the deal.

The article SPAC Neo Technology Acquisition files for a $40 million IPO, targeting Asia and North America 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.

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