Cetus Capital Acquisition in an amended S-1 filing today said it now plans to offer 5 million units at $10 each, down from the 6 million units initially registered in July.
A unit now consists of one share, a warrant and one-sixth of a right to receive a share at the close of a merger. The units did not include rights in the original registration.
The SPAC said it will now focus on a target business in the industrials, information technology and Internet-of-Things industries with an intention to initially prioritize Taiwan.
CEO, President and Chairman Chung-Yi Sun is managing director of AWinner Limited, an investment firm focused on breakthrough Information Technology companies. Sun has also served since June 2010 as assistant vice president of Lite-On Green Technologies, a Taiwan-based green technology company.
Cetus in the amended filing said it has applied for a Nasdaq listing under the symbol CETUU, with EF Hutton serving as sole book-running manager of the offering. Read more.
Source: Cetus Capital Acquisition Trims Deal Size 17% Ahead of M IPO