Vickers Vantage I, a blank check company formed by Singapore-based Vickers Venture Partners, raised $120 million by offering 12 million units at $10.
The company had originally planned to raise $100 million. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Jeffrey Chi, who co-founded Vickers Venture Partners and currently serves as a member of its Investment Committee. He is joined by CFO and Director Chris Ho, who serves as a Venture Principal at Vickers Venture and previously worked in consulting with ZS Associates. Vickers Vantage I did not identify a particular industry or geographic location, and says it will leverage the expertise and network of its sponsor to take advantage of deal flow, strong networks, and technical expertise (view Vickers’ portfolio).
Vickers Vantage I plans to list on the Nasdaq under the symbol VCKAU. Maxim Group LLC acted as lead manager on the deal.
Source: Renaissance Capital- Singapore VC’s SPAC Vickers Vantage I prices upsized $120 million US IPO