Tottenham Acquisition I, a Chinese blank check company formed to acquire a TMT business, raised $40 million by offering 4.0 million units at $10, as expected. Units consists of one share, one warrant to purchase one-half of one share (whole warrants exercisable at $11.50), and one right to receive one-tenth of one share upon the company's acquisition.
The Hong Kong-based SPAC plans to list on the Nasdaq on Thursday under the symbol TOTAU. Chardan Capital Markets acted as lead manager on the deal.
