UK SPAC Eyes £1.8m (US$2.23M) IPO in London

UK special purpose acquisition company Ashington Innovation announced today it will on the main market of the .

The company specialises in the and deep tech sectors and has so far raised £809,437 in gross proceeds – consisting of 26,981,233 ordinary shares at 3 pence per share, Investment Week reports.

Subject to admission to the standard listing segment of the LSE, Ashington Innovation said it will have 61,397,900 shares in issue, valuing it at around £1.84m.

Trading in the firm's ordinary shares is expected to begin June 6.

Ashington Innovation explained the listing will enable it to “pursue its objective of acquiring a target company or business in the technology sector, with particular focus on the fintech and deep tech sectors.” Read more.

Source: UK SPAC Eyes £1.8m (US.23M) IPO in London