Mars Acquisition, a blank check company targeting the technology innovations market, filed on Thursday with the SEC to raise up to $75 million in an initial public offering.
The New York, NY-based company plans to raise $75 million by offering 7.5 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-half of a warrant, exercisable at $11.50. At the proposed deal size, Mars Acquisition would command a market value of $98 million.
The company is led by CEO, CFO, and Director Karl Brenza, former Senior Managing Director of Investment Banking for Paulson Investment Company; COO and Director Iris Zhao, the CIO of Future Fintech Group (Nasdaq: FTFT); and Chairman Shanchun Huang, the CEO of Future Fintech Group. Zhao and Huang are spouses.
The company plans to target businesses in crypto-currency and block-chain, electronic vehicles, healthcare technology, financial technology, cleantech, specialty manufacturing, big data and artificial intelligence, and any other related technology innovations market.
Mars Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol MARXU. The company filed confidentially on November 24, 2021. Maxim Group LLC is the sole bookrunner on the deal.
