SPAC Prime Number Acquisition I files for a $60 million IPO, targeting tech-enabled financials
By Renaissance Capital,
The company plans to raise $60 million by offering 6 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, Prime Number Acquisition I would command a market value of $79 million.
Prime Number Acquisition I is led by CEO and Chairman Dongfeng Wang, a partner at Longling Capital and the founder and former CEO and Chairman of Forgame Group (484.HK; ~$23mm mkt cap). He is joined by CFO and Director David Friedman, the current CFO of optical sensor company Oyla.
The SPAC plans to leverage management’s experience and target technology-enabled financial sectors including but not limited to blockchain, datacenter, non-fungible token, ecommerce, and other technology related infrastructure sectors. It will not target companies in China.
The Manhasset, NY-based company was founded in 2021 and plans to list on the Nasdaq under the symbol PNACU. Prime Number Acquisition I filed confidentially on June 4, 2021. Prime Number Capital and Shengang Securities are the joint bookrunners on the deal.
Source : https://www.renaissancecapital.com/IPO-Center/News/90642/SPAC-Prime-Number-Acquisition-I-files-for-a-$60-million-IPO-targeting-tech-
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