Evergreen Corp, a blank check company targeting tech-focused businesses in Asia, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
The Petaling Jaya, Malaysia-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. At the proposed deal size, Evergreen Corp would command a market value of $130 million.
The company is led by CEO and Chairman Liew Choon Lian, the founder and CEO of the MDT Group of Companies. The company plans to target mid-market and emerging growth technology-focused companies in Asia, particularly those involved in AI, FinTech and Financial Services, the Metaverse, the IoT, e-commerce, social commerce, Industry 4.0, as well as areas surrounding the new digital economy.
Evergreen Corp was founded in 2021 and plans to list on the Nasdaq under the symbol EVGNU.RC. The company filed confidentially on December 23, 2021. EF Hutton is the sole bookrunner on the deal.
