July 24, 2024
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In a Nasdaq IPO, a crypto-focused SPAC raises $115 million

SPAC


Aura FAT Projects Acquisition Corp. (AFARU), a special purpose acquisition company (SPAC), has raised $115 million in its Nasdaq IPO, focusing on crypto assets.

According to a statement from the firm on April 19, the Cayman Islands-incorporated SPAC raised an amazing $100 million during its April 13 initial public offering (IPO), plus a $15 million over-allotment, bringing its total to $115 million.

It also receives finance from Aura Group and Fat Projects, both of which are based in Singapore. SPAC has offices throughout Australia, New Zealand, Singapore, Indonesia, Vietnam, Thailand, Malaysia, and the Philippines, according to its website.

Aura FAT has declared an interest in new technological firms that deal with Web3, crypto, digital ledger. Then, and e-gaming assets, and will target acquisitions in the blockchain industry.

PrimeBlock, a Bitcoin (BTC) mining company, and 10x Capital Venture Acquisition Corp II SPAC announced their merger on April 1. PrimeBlock will become a publicly traded firm after the $1.3 billion deal.

Thunder Bridge Capital Partners IV SPAC and Coincheck, a Japanese crypto exchange, joined late in March to become the Conicheck Group N.V. Lastly, The $1.25 billion transaction is slated to be listed on the Nasdaq in the second quarter of this year.

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