Serendipity Capital Acquisition, a blank check company formed by Serendipity Capital targeting an APAC-focused financials business, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Singapore-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Serendipity Capital Acquisition would command a market value of $313 million.
The company is led by and CEO and Director Robert Jesudason, the CEO and Founding Partner of permanent capital vehicle Serendipity Capital, and Chairman Stephen Roder, a Non-Executive Director of Serendipity Capital and the former CFO of Manulife Group. The company plans to target financial services, technology, or climate focused businesses operating in the financial services sector with a bias towards the Asia Pacific (APAC) region.
Serendipity Capital Acquisition was founded in 2021 and plans to list on the NYSE under the symbol SCAC.U. The company filed confidentially on March 22, 2021. Goldman Sachs (Asia) is the sole bookrunner on the deal.
