Distoken Acquisition, a SPAC targeting the tech sector in Asia, said in an amended S-1 it now plans to offer 6 million units, up from the 5 million units cited in an August 2021 filing, which was an increase from the 4 million units initially registered in September 2020. This is the SPAC's eighth amended S-1 ahead of its ipo.
A unit now consists of one Class A ordinary share, one right and a warrant — up from half a warrant noted in the previous S-1 update. Each right would be good for one-tenth of a share upon completion of a merger. Whole warrants will be exercisable at $11.50.
Distoken is led by Chairman and CEO Jian Zhang, who is a director or executive at several technology and investment firms, according to the filing.
i-bankers Securities is sole boook-running manager of the offering.
The SPAC has applied for a nasdaq listing under DISTU. Read more.
Source: Distoken Acquisition Increases Deal Offer Again Ahead of M IPO