UY Scuti Acquisition, a blank check company targeting middle-market growth businesses in Asia, raised $50 million by offering 5 million units at $10. Each unit consists of one share and one right to receive one-fifth of a share upon the closing of a business combination.
UY Scuti Acquisition is led by CEO and Director Jialuan Ma, a Chinese citizen who most recently served as the Financial Director of Roche Pharma China until 2021, and a director at Qomolangma Acquisition (QOMO; liquidated). She is joined by CFO Shaokang Lu, IR Manager at Nisun Group (Nasdaq: NISN) and Investment Director at The Balloch Group, and CIO and director Jiawen Zhao, also an Investment Director at The Balloch Group.
The SPAC plans to target middle-market growth businesses with total enterprise values between $200 million and $400 million.
UY Scuti Acquisition plans to list its units on the Nasdaq on Monday under the symbol UYSCU. Maxim Group LLC acted as sole bookrunner on the deal.
