Vertex Venture Holdings — a venture capital firm backed by Singapore state investor Temasek — plans to raise S$200 million (around $150 million) from the IPO of its special purpose acquisition company (SPAC) on the Singapore Exchange (SGX).
According to a prospectus filed by the VC on Thursday, Vertex Technology Acquisition Corporation Ltd (VTAC) has so far secured the backing of 13 cornerstone investors. They will subscribe to 22.2 million cornerstone units — approximately 55.5% of the post-offering share capital of the SPAC entity — at an offering price of S$5 apiece.
