AlphaTime Acquisition announced that the underwriters of its initial public offering exercised in full their over-allotment option to purchase an additional 900,000 units at $10 each.
The IPO resulted in total gross proceeds of $69 million.
The SPAC is broadly focused on companies in asia, and the management team has an extensive network in china, according to the initial S-1 filing for the offering.
Units list on the nasdaq under the ticker symbol ATMCU. After the securities begin separate trading, the ordinary shares, warrants and rights are expected to list under the symbols ATMC, ATMCW and ATMCR, respectively.
Chardan Capital Markets was sole book-running manager of the offering. Read more.
Source: AlphaTime Acquisition Adds M to IPO with Full Exercise of Over-Allotment