TMT Acquisition Closes $60M IPO

Asia-focused TMT Acquisition closed its initial public offering of 6 million units at $10 each.

A unit consists of ordinary share and one right. Each right entitles the holder to receive two-tenths of a share upon completion of a merger.

Units trade on the under symbol TMTCU. Once the securities begin separate trading, shares and rights will kist under the symbols TMTC and TMTCR.

Maxim Group acted as the sole book-running manager for the offering. Revere Securities LLC was a co-manager.

TMT has not cited any specific sectors it may target, but will not do a deal with companies based in China, or Macau. Read more.

Source: TMT Acquisition Closes M IPO