A SPAC I Acquisition Corp. announced a private placement of 357,500 units at a price of $10 per unit for gross proceeds of $3,575,000 on June 23, 2021. The transaction will include participation from A SPAC (Holdings) Acquisition Corp.
Each unit consist of one common share and one right to receive one-tenth (1/10) of one Class A ordinary share. The securities to be issued have a hold period of 30 days. The company has granted over-allotment option to the underwriters as part of the transaction.
The company will issue additional 387,500 units for $3,875,000 if over-allotment option is exercised.