Melar Acquisition I, a blank check company targeting the "emerging finance" sector, raised $150 million by offering 15 million units at $10.00. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The New York, NY-based company is led by CEO and Chairman Gautam Ivatury, co-founder and Managing Partner of debt investment firm ALMA Sustainable Finance; CFO Edward Lifshitz, a former Partner at EisnerAmper; and his son COO and Director Eric Lifshitz, the founder of real estate advisory and investment firm Melar Capital Group.
The SPAC plans to target emerging finance, which it defines as businesses in retail finance, specialty finance, or financial technology that are positioned to benefit directly from the growth of economic stability and financial technologies in their target markets. The subsectors it aims to focus on include financial services for for Micro, Small and Medium Enterprises, renewable energy financing, and digital payments.
Melar Acquisition I plans to list on the Nasdaq under the symbol MACIU. Cohen & Company and Seaport Global acted as joint bookrunners on the deal.
