Aurora Technology Acquisition, a blank check company targeting tech businesses formed by Asian or Asian-American entrepreneurs, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one warrant to purchase one-half of a share, exercisable at $11.50. At the proposed deal size, Aurora Technology Acquisition would command a market value of $250 million.
Aurora Technology Acquisition is led by CEO and Chairman Zachary Wang, the founder and CEO of Ascan Investments; CFO and Vice Chairman Yida Gao, the founder and lead investor at venture fund Shima Capital; and COO and Director Cathryn Chen, the founder and CEO of pre-IPO investment platform MarketX.
Aurora Technology Acquisition plans to leverage management's experience and target high-growth technology companies based in Asia and North America that were founded by Asian or Asian-American entrepreneurs. These technologies include but are not limited to artificial intelligence, blockchain, quantum computing, and electric vehicles.
The San Francisco, CA-based company was founded in 2021 and plans to list on the Nasdaq under the symbol ATAKU. Aurora Technology Acquisition filed confidentially on December 2, 2021. Maxim Group LLC is the sole bookrunner on the deal.
