Fat Projects Acquisition, a blank check company targeting tech-enabled businesses in Southeast Asia, raised $100 million by offering 10 million units at $10. Each unit contains one share of common stock and one warrant, exercisable at $11.50.
Fat Projects Acquisition is led by Co-CEO and Chairman Tristan Lo, a Managing Partner of start-up investment firm Fat Projects and founder of B2C e-commerce company Mums.sg, and Co-CEO, CFO, and Director David Andrada, who is also a Managing Director at Fat Projects. The company aims to use its experience to target technology-led businesses with operations or potential operations in Southeast Asia. Fat Projects Acquisition may target companies with operations in supply chain, transportation, logistics, finance, sustainability/ESG, food, agriculture, e-commerce, or big data.
Fat Projects Acquisition plans to list on the Nasdaq under the symbol FATPU. EF Hutton acted as sole bookrunner on the deal.
