PTK Acquisition, a blank check company formed by Chinese semiconductor veterans and dealmakers targeting a tech business, raised $100 million by offering 10 million units at $10.
Each unit consists of one share of common stock and one warrant for one-half of a share with a strike price of $11.50. The company originally filed to offer units with warrants for three-quarter shares, before amending terms on Friday, in a sign of demand for the deal.
PTK Acquisition plans to list on the NYSE American under the symbol PTK.U. Chardan Capital Markets acted as lead manager on the deal.
