SK Growth Opportunities, a blank check company backed by Korean conglomerate SK targeting ESG, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
SK Growth Opportunities is led by CEO and Director Richard Chin, former President at SK hynix (KRX: 000660) and Head of SK affiliate Global Development Group (GDG), and CFO and Director Derek Jensen, former VP of Corporate Development of GDG. The company seeks to leverage management's experience and target opportunities that are involved in developing technologies and products that address ESG-related issues or are operated in a fashion that is consistent with ESG principles.
SK Growth Opportunities plans to list on the Nasdaq under the symbol SKGRU. Deutsche Bank acted as sole bookrunner on the deal.
