PTK Acquisition, a blank check company formed by Chinese semiconductor veterans and dealmakers targeting a tech business, raised $100 million by offering 10 million units at $10.
Each unit consists of one share of common stock and one warrant for one-half of a share with a strike price of $11.50. The company originally filed to offer units with warrants for three-quarter shares, before amending terms on Friday, in a sign of demand for the deal.
PTK Acquisition plans to list on the NYSE American under the symbol PTK.U. Chardan Capital Markets acted as lead manager on the deal.
The article Technology SPAC PTK Acquisition prices $100 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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