DT Asia Investments, a blank check company formed to acquire a middle-market growth business in China, filed on Tuesday with the SEC to raise up to $60 million in an initial public offering. The recently-formed Hong Kong-based SPAC plans to raise $60 million by offering 6.0 million units at $10 per unit. At that price, the company would command a fully diluted market value of $79 million.
DT Asia Investments plans to list on the NASDAQ under the symbol CADTU. The compay's sponsor and primary shareholder is Winnie Ng. CEO Stephen Cannon has previous SPAC experience that resulted in SGOCO Group (NASDAQ: SGOC). EarlyBird Capital is the sole bookrunner on the deal. No pricing date was disclosed.
