After filing earler this month with the SEC to withdraw a planned $250 million ipo, Makara Strategic Acquisition announced that it will proceed with an IPO with EF Hutton.
Makara in a press release said it “has merely withdrawn its registration statement with the U.S. Securities and Exchange Commission to preserve its filing fees and intends to refile the S-1 with its latest, updated financial statements.”
Makara said it intends to proceed with its IPO imminently as it believes market conditions and opportunities in its target sector have also improved significantly. Makara's original S-1 noted it plans to focus on natural resources, clean energy or energy storage sectors in the Americas, europe or asia.
The SPAC's statement about proceeding with an updated S-1 appeared in a press release posted yesterday afternoon. As of this afternoon, the SPAC had not refiled an S-1. Read more.