VIKASA SPAC Series I Acquisition Withdraws $200M IPO

VIKASA SPAC Series I Acquisition in a letter to the SEC said it will not offer 20 million units initially registered in March 2021.

The SPAC in its original S-1 filing said it would “capitalize on our management team's significant knowledge of sustainable technology in the field of clean renewable and proven ability to source, acquire and manage a business facilitating the transition of the energy industry toward decarbonization and sustainability and that is positioned to generate long-term value and growing cash flows.”

CEO Ajit Kumar is a buy-side investment executive investing in global mining and energy metals sectors for multiple family offices in . He currently serves as founding partner and CEO of Energy Metals Fund. 

The SPAC had planned to apply for a listing on the Nasdaq with Cantor serving as sole book-running manager. Read more.

Source: VIKASA SPAC Series I Acquisition Withdraws 0M IPO