Crypto targeted SPAC raises $115M in Nasdaq IPO

Aura FAT Tasks Acquisition Corp. (AFARU), a particular goal acquisition firm (SPAC), has closed its IPO on Nasdaq and raised $115 million, with a deal with crypto trade belongings.

The Cayman Islands-incorporated SPAC raised a powerful $100 million throughout its April 13 preliminary public providing (IPO) plus an over-allotment of $15 million, bringing its complete to $115 million in response to an announcement from the agency on April 19.

It additionally has funding from sponsorships with Singapore-based monetary providers companies Aura Group and Fats tasks. The SPAC’s web site states that it has a presence in Australia, New Zealand, Singapore, Indonesia, Vietnam, Thailand, Malaysia, and the Philippines.

Aura FAT will goal acquisitions within the blockchain sector because it has a acknowledged curiosity in rising know-how firms that take care of Web3, crypto, digital ledger, and e-gaming belongings.

On April 1, the Bitcoin (BTC) mining firm PrimeBlock introduced its merger with the 10x Capital Enterprise Acquisition Corp II SPAC. The merger is valued at $1.3 billion and can make PrimeBlock a publicly traded firm.

Late in March, the Thunder Bridge Capital Companions IV SPAC merged with the Japanese crypto trade Coincheck to kind the Conicheck Group N.V. The merger is valued at $1.25 billion and is anticipated to be listed on Nasdaq within the second quarter of this yr.