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.
Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)