Cetus Capital Acquisition, a blank check company targeting the industrials, tech, and IoT industries in Taiwan, raised $50 million by offering 5 million units at $10. Each unit contains one share of common stock, one right to receive one-sixth of a share upon completion of an initial business combination, and one warrant, exercisable at $11.50.
Cetus Capital Acquisition is led by CEO and Chairman Chung-Yi Sun, the Managing Director of IT-focused investment firm AWinner Limited and AVP of green-tech company Lite-On Green Technologies. The company plans to target the industrials, technology, and Internet-of-Things (IoT) industries, focusing on businesses in Taiwan with enterprise values between $200 million and $1 billion. It will not consider businesses in China, including Hong Kong and Macau, or businesses with China operations consolidated through a VIE structure.
Cetus Capital Acquisition plans to list on the Nasdaq under the symbol CETUU. EF Hutton acted as sole bookrunner on the deal.
