Bukit Jalil Global Acquisition 1, a blank check company led by Malaysian executives targeting emerging growth companies, raised $50 million by offering 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.
The Kuala Lumpur, Malaysia-based company is led by CEO, CFO, and Chairman Neil Foo, whose current roles include Executive Director of Sinar Tenaga Engineering, Corporate Advisor to Malaysia-listed Smile-Link Healthcare Global, and Managing Director of Fission Capital. While it has not selected a target sector or geography, the company plans to focus on emerging growth companies that are either already or in a position to become cash-generative.
Bukit Jalil Global Acquisition 1 plans to list on the Nasdaq under the symbol BUJAU. A.G.P. acted as sole bookrunner on the deal.
