Aurora Technology Acquisition Corp. Announces Closing of $202 Million Initial Public Offering, Including Exercise of the Underwriters' Over-Allotment Option

Rhea-AI Summary

Aurora Technology Acquisition Corp. has successfully closed its initial public offering (IPO), raising $202 million through the sale of 20,200,000 units. Each unit, priced at $10.00, includes one Class A ordinary share and a warrant. The units began trading on Nasdaq under the ticker symbol ATAKU on February 7, 2022. The Company aims to focus on mergers and acquisitions with high-growth technology firms in North America and Asia, particularly targeting businesses founded by Asian or Asian-American entrepreneurs.

Positive

• Successful IPO raising $202 million.
• Units began trading on Nasdaq under the ticker symbol ATAKU.
• Focus on high-growth technology companies enhances potential for revenue growth.

Negative

• None.

SAN FRANCISCO, Feb. 9, 2022 /PRNewswire/ -- Aurora Technology Acquisition Corp. (the "Company") a newly organized blank check company incorporated as a Cayman Islands exempted company and led by Chairman and CEO, Zachary Wang, Co-vice Chairwoman and COO, Cathryn Chen, Co-vice Chairman and CFO, Yida Gao as well as additional Board Members Max Baucus, Jim Woolery, Sam Yam, Alec Hartman, and Paul Asquith, announced today that it closed its initial public offering of 20,200,000 units, which includes the partial exercise of the underwriters' over-allotment option. The units were sold at a price of $10.00 per unit, resulting in total gross proceeds of $202,000,000. Each unit consists of one Class A ordinary share, one redeemable warrant and one right to receive one-tenth (1/10) of one class A ordinary share. Each redeemable warrant entitles the holder thereof to purchase one-half of one Class A ordinary share at a purchase price of $11.50 per whole share. Each ten (10) rights entitle the holder thereof to receive one Class A ordinary share at the closing of a business combination. The units began trading on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "ATAKU" on February 7, 2022. After the securities comprising the units begin separate trading, the Class A ordinary shares, warrants and rights are expected to be listed on Nasdaq under the ticker symbols "ATAK," "ATAKW" and "ATAKR," respectively.

Maxim Group LLC acted as sole book-running manager of the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on February 7, 2022. The offering has been made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, or by accessing the SEC's website, www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Aurora Technology Acquisition Corp.

Aurora Technology Acquisition Corp. is a Cayman Island based blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses in any industry or geographic location, but intends to focus its search on high-growth technology companies based in North America and Asia (excluding China). The Company aims to prioritize target companies founded by Asian or Asian-American entrepreneurs who are building a global enterprise supported by forward thinking visions and innovative frontier technologies that include but are not limited to artificial intelligence, blockchain, quantum computing, and electric vehicles.

Forward Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact Information

Zachary Wang, CEO
Cathryn Chen, COO
Yida Gao, CFO
Email: info@auroraspac.com

 

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SOURCE Aurora Technology Acquisition Corp.

FAQ

What was the total amount raised in the Aurora Technology Acquisition Corp. IPO?

Aurora Technology Acquisition Corp. raised a total of $202 million in its IPO.

What is the ticker symbol for Aurora Technology Acquisition Corp. on Nasdaq?

The ticker symbol for Aurora Technology Acquisition Corp. on Nasdaq is ATAKU.

When did Aurora Technology Acquisition Corp. begin trading on Nasdaq?

Aurora Technology Acquisition Corp. began trading on Nasdaq on February 7, 2022.

What is the focus of Aurora Technology Acquisition Corp.'s business strategy?

The Company focuses on acquiring high-growth technology businesses, particularly those founded by Asian or Asian-American entrepreneurs.

What does each unit in the IPO consist of?

Each unit consists of one Class A ordinary share, one redeemable warrant, and one right to receive one-tenth of a Class A ordinary share.