Malacca Straits Acquisition Company Limited Announces Pricing of $125 Million Initial Public Offering
Malacca Straits Acquisition Company Limited has priced its IPO at $10.00 per unit, totaling 12,500,000 units, set to trade under the ticker symbol MLACU starting July 15, 2020. Each unit includes one Class A ordinary share and a half warrant, allowing purchase of an additional Class A share at $11.50. The offering closes on July 17, 2020, and underwriters have a 45-day option for an additional 1,875,000 units. The Company's focus is on acquisitions in Southeast Asian conglomerates, particularly in media, food processing, renewable energy, and healthcare.
- Successful pricing of IPO at $10.00 per unit, indicating investor interest.
- Potential for expansion into Southeast Asian markets, focusing on strategic sectors.
- Forward-looking statements indicate uncertainty regarding the completion of the offering.
New York, New York, July 14, 2020 (GLOBE NEWSWIRE) -- Malacca Straits Acquisition Company Limited (the “Company”) announced today that it priced its initial public offering of 12,500,000 units at a price of
The Company has granted the underwriters a 45-day option to purchase up to an additional 1,875,000 units at the initial public offering price to cover over-allotments, if any.
The offering is expected to close on July 17, 2020, subject to customary closing conditions.
BTIG, LLC is acting as the sole book running manager for the offering and I-Bankers Securities, Inc. is acting as co-manager for the offering.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained by contacting BTIG, LLC at 65 East 55th Street, New York, NY 10022, or by email at equitycapitalmarkets@btig.com.
A registration statement relating to the securities became effective on July 14, 2020. 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.
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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 and preliminary prospectus for the offering filed with the Securities and Exchange Commission (“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.
About Malacca Straits Acquisition Company Limited
The Company is a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any industry or sector, the Company intends to focus on businesses which are currently part of Southeast Asian business conglomerates in the media, food processing, renewable energy and healthcare industries.
Contact
Kenneth Ng
Chief Executive Officer and President
+852 21060888
FAQ
What is the IPO pricing for Malacca Straits Acquisition Company Limited (MLACU)?
When will MLACU start trading?
What does each unit consist of in the Malacca Straits IPO?
What is the purpose of the IPO for Malacca Straits Acquisition Company Limited?
What are the warrants associated with the MLACU units?
