Aura FAT Projects Acquisition Corp. (AFARU), a special purpose acquisitions company (SPAC, for its acronym in English), has closed its initial public offering (IPOfor its acronym in English) on the Nasdaq and has raised $115 million, focusing on assets from the cryptocurrency industry.
SPAC, incorporated in the Cayman Islands, raised an impressive $100 million during its April 13 IPOwith an over-allotment of $15 million, bringing its total to $115 million, according to a company announcement Tuesday.
The firm also has funding from sponsorships from Singapore-based financial services firms Aura Group and Fat projects.. The SPAC website indicates that it is present in Australia, New Zealand, Singapore, Indonesia, Vietnam, Thailand, Malaysia and the Philippines.
Aura FAT will focus on acquisitions in the blockchain sectoras it has a stated interest in emerging technology companies dealing with Web3, cryptocurrencies, digital distributed ledgers, and e-gaming assets.
On April 1, bitcoin (BTC) mining company PrimeBlock announced its merger with SPAC 10x Capital Venture Acquisition Corp II.. The merger is valued at $1.3 billion and will make PrimeBlock a publicly traded company.
In late March, SPAC Thunder Bridge Capital Partners IV merged with Japanese cryptocurrency exchange Coincheck to form Coincheck Group NV.. The merger is valued at $1.25 billion and is expected to list on the Nasdaq in the second quarter of this year.
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