Disruptive tech SPAC Future Tech II Acquisition files for a $100 million IPO

Renaissance Capital2021-12-25

Future Tech II Acquisition, a blank check company targeting the disruptive technology sector in the US, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.

The New Rochelle, NY-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Future Tech II Acquisition would command a market value of $130 million.

The company is led by CEO and Chairman Yuquan Wang, the Founding Partner of Haiyin Capital. The company plans to target the disruptive technology sector in the US, including artificial intelligence, robotic process automation, and any other related technology innovations market.

Future Tech II Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbolFTIIU. EF Hutton is the sole bookrunner on the deal.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
25