Aurora Technology Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering

Rhea-AI Summary

Aurora Technology Acquisition Corp. announced the pricing of its initial public offering (IPO) of 20 million units at $10.00 each, aiming to raise $200 million. Each unit includes one Class A ordinary share, one redeemable warrant, and rights for additional shares upon business combination. Trading is set to begin on Nasdaq under the ticker symbol 'ATAKU' on February 7, 2022, with the offering closing on February 9, 2022. Maxim Group LLC acts as the sole book-running manager. The company targets high-growth technology businesses in North America and Asia, emphasizing innovation in sectors like AI and electric vehicles.

Positive

• Successful pricing of IPO for 20 million units at $10.00 each, raising up to $200 million.
• Focus on high-growth technology companies, potentially leading to significant revenue growth.
• Experienced management team with a strategic vision for business combinations.

Negative

• Dependence on external market conditions for successful execution of the IPO.
• No assurance of closing the offering or achieving intended financial outcomes.

SAN FRANCISCO, Feb. 7, 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 the pricing of its initial public offering of 20,000,000 units at an offering price of $10.00 per unit, with each unit consisting 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 warrants entitle the holder thereof to purchase one Class A ordinary share, and each ten (10) rights entitle the holder thereof to receive one Class A ordinary share at the closing of a business combination. The exercise price of the warrants is $11.50 per whole share. The units are expected to trade on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "ATAKU" beginning on February 7, 2022. Once the securities comprising the units begin separate trading, the Class A ordinary shares, warrants and rights will be traded on Nasdaq under the symbols "ATAK," "ATAKW," and "ATAKR," respectively. The offering is expected to close on February 9, 2022, subject to customary closing conditions.

Maxim Group LLC is acting as the sole book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to 3,000,000 additional units at the initial public offering price to cover over-allotments, if any.

A registration statement on Form S-1 (File No. 333-261753) relating to the securities to be sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on February 7, 2022. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16^th 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 a 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 Company's initial public offering ("IPO") and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or 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 Aurora Technology Acquisition Corp., including those set forth in the Risk Factors section of Aurora Technology Acquisition Corp.'s registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Aurora Technology Acquisition Corp. 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 is the IPO price of Aurora Technology Acquisition Corp.?

The IPO price is set at $10.00 per unit.

When will trading begin for ATAKU on Nasdaq?

Trading is expected to begin on February 7, 2022.

What is included in each unit of the IPO for ATAKU?

Each unit consists of one Class A ordinary share, one redeemable warrant, and one right to receive additional shares.

What is the purpose of Aurora Technology Acquisition Corp.'s IPO?

The IPO aims to raise capital for merging or acquiring high-growth technology companies.

What industries is Aurora Technology Acquisition Corp. focusing on?

The company is focusing on high-growth technology sectors, particularly AI, blockchain, and electric vehicles.