SPAC backed by ex-Templeton PE co-head files for $185m IPO, shuns China targets

REUTERS/Eric Thayer

A SPAC II Acquisition, a blank cheque company led by ex-Templeton Asset Management North Asia private equity co-head Claudius Tsang, has filed with the US Securities and Exchange Commission to raise up to $185 million in an initial public offering (IPO).

The special purpose acquisition company (SPAC) plans to offer 18.5 million units at $10 apiece. Each unit consists of one share of common stock, one-half of a warrant exercisable at $11.50, and a right to receive one-tenth of a share of common stock upon the closing of a business combination. It plans to list on the Nasdaq under the symbol ASCBU.

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