Aura FAT Projects Acquisition Corp. Announces Closing of Initial Public Offering and Exercise of Full Over-Allotment Option
April 18 2022 - 3:14PM
via NewMediaWire --Aura FAT Projects Acquisition Corp. (the
“Company”) announced today the closing of its initial public
offering of 10,000,000 units at $10.00 per unit (the
“Offering”). Each unit consists of one Class A ordinary share
and one redeemable warrant entitling the holder thereof to purchase
one Class A ordinary share at a price of $11.50 per share. The
underwriters exercised their over-allotment option in full for an
additional 1,500,000 units on April 13, 2022, which closed at the
time of the closing of the Offering. As a result, the aggregate
gross proceeds of the Offering, including the over-allotment, are
$115,000,000, prior to deducting underwriting discounts,
commissions, and other Offering expenses.
The units have been listed on the Nasdaq Global
Market (“Nasdaq”) and began trading on April 13, 2022, under the
ticker symbol “AFARU”. Once the securities comprising the units
begin separate trading, the Class A ordinary shares and warrants
are expected to be listed on Nasdaq under the symbols “AFAR” and
“AFARW”, respectively.
The Company is a newly organized blank check
company incorporated as a Cayman Islands exempted company for the
purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with
one or more businesses. While it will not be limited to a
particular industry or geographic region, the Company intends
to focus its search on new emerging technology companies with an
acute growth potential in Southeast Asia and Australasia in sectors
such as the Web 3.0, blockchain, cryptocurrency, digital ledger,
e-gaming and other new financial technology and services
sectors.
EF Hutton, division of Benchmark Investments,
LLC (“EF Hutton”) served as sole book-running manager for the
Offering.
Nelson Mullins Riley & Scarborough LLP
served as legal counsel to the Company. The Loev Law Firm, PC
served as legal counsel to EF Hutton.
The units described above were offered by the
Company pursuant to a registration statement on Form S-1 (File No.
333-263717) that was originally filed with the Securities and
Exchange Commission (“SEC”) on March 18, 2022 and declared
effective by the SEC on April 12, 2022. The Offering was made
only by means of a prospectus, copies of which may be obtained,
from: EF Hutton, division of Benchmark Investments LLC, 590 Madison
Ave., 39thFloor, New York, NY 10022, Attention: Syndicate
Department, or via email
at syndicate@efhuttongroup.com or telephone at (212)
404-7002.
This press release shall not constitute an offer
to sell or asolicitation of an offer to buy, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the Company’s initial public offering, the search for an
initial business combination, and the anticipated use of the net
proceeds of the offering. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company's registration statement and final prospectus
for the offering filed with the SEC. Copies are available on the
SEC's website, www.sec.gov. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
CONTACTAura FAT Projects Acquisition
Corp.1 Phillip Street, #09-00Royal One PhillipSingapore,
048692 Attn: David AndradaEmail:
office@fatprojects.comTelephone: 65-3135-1511
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