Catcha Investment 2.0, the second blank check company formed by Catcha Group targeting "new economy" sectors in Asia Pacific, withdrew its plans for an initial public offering on Monday. It had filed in March 2021 to raise $250 million by offering 25 million units at $10, with each unit containing one share of common stock and one-third of a warrant.
The company was set to be led by CEO and Chairman Patrick Grove and President and Director Luke Elliott, co-founders of Southeast Asian internet investment firm Catcha Group. Catcha Investment intended to focus on a target with operations or prospective operations in the technology, digital media, financial technology, or digital services sectors ("new economy" sectors) across Asia Pacific, particularly Southeast Asia and Australia.
Management's other SPAC, Catcha Investment (CHAA.U; -1% from $10 offer price), went public in February 2021, and is still looking for a merger target.
The Singapore-based company was founded in 2021 and planned to list on the NYSE under the symbol CHAB.U. J.P. Morgan was set to be the sole bookrunner on the deal.
