IPOs

Tech-focused SPAC Orisun Acquisition files for a $40 million IPO

Orisun Acquisition, a blank check company targeting a high-tech business in the US led by an experienced Chinese investor, filed on Wednesday with the SEC to raise up to $40 million in an initial public offering.

The New York, NY-based company plans to raise $40 million by offering 4 million units at a price of $10, where it would command a market value of $52 million. Each unit consists of one share of common stock, one half of one warrant to purchase a share of common stock at $11.50 per share, and one-tenth of one right that entitles the holder to a share of common stock upon the completion of the initial business combination.

Orisun Acquisition was founded in 2018 and it plans to list on the Nasdaq under the symbol ORSNU. The company filed confidentially on April 2, 2019. Chardan Capital Markets is the sole bookrunner on the deal.

The article Tech-focused SPAC Orisun Acquisition files for a $40 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.

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