PTK Acquisition, a blank check company targeting a technology business, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The Los Angeles, CA-based company plans to raise $100 million by offering 10 million units at a price of $10. Each unit consists of one share of common stock and one warrant worth three-quarters of a share, exercisable at $11.50. At the proposed deal size, PTK Acquisition would command a market value of $125 million.
The company is led by CEO Peter Kuo, a co-founding Partner at Canyon Bridge Capital Partners, and CFO Timothy Chen, the CEO of VIA China.
The Los Angeles, CA-based company was founded in 2019 and plans to list on the NYSE under the symbol PTK.U. Chardan Capital Markets is the sole bookrunner on the deal.
