SINGAPORE--(BUSINESS WIRE)--Fat Projects Acquisition Corp. (the “Company” or “FATP”) today announced that it has filed a registration statement on Form S-1 (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of 10,000,000 units at a price of $10.00 per unit, consisting of one Class A ordinary share and one-half of one redeemable warrant. Only whole warrants are exercisable. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described in the Registration Statement. The Company has applied to list its units on The Nasdaq Stock Market under the symbol “FATP”.
FATP is a new blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Initial Business Combination”). The Company’s sponsor, Fat Projects SPAC Pte. Ltd. (the “Sponsor”), is an affiliate of Fat Projects Pte. Ltd.
While the Company may pursue an acquisition in any business, industry or geography, we intend to focus our search on a target with operations or prospective operations that is technology-led in the areas of supply chain, transportation, logistics, finance, sustainability/ESG, food, agriculture, e-commerce, big data and/or take advantage of the monetization opportunities stemming from a rapidly growing middle class and their evolving consumption and digital needs in Southeast Asia. The target company is not limited to companies already incorporated in Southeast Asia, but companies globally that have solutions that can scale and are applicable to the Southeast Asian market.
EF Hutton, division of Benchmark Investments, LLC formerly known as Kingswood Capital Markets, division of Benchmark Investments, LLC, is acting as the sole book-running manager of the offering and as representative of the underwriters named in the Registration Statement. The Company has granted the underwriters a 45-day option from the date of the final prospectus to purchase up to an additional 1,500,000 units to cover over-allotments, if any.
The proposed offering will be made only by means of a prospectus, which forms a part of the Registration Statement. Copies of the preliminary prospectus relating to the proposed offering may be obtained, when available, for free by visiting EDGAR on the SEC’s website at www.sec.gov.
Alternatively, copies of the preliminary prospectus, when available, may be obtained from EF Hutton, Attn: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at firstname.lastname@example.org or by telephone at (212) 404-7002.
The Registration Statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an Initial Business Combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk factors” section of the Registration Statement filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
About Fat Projects Acquisition Corporation
Fat Projects Acquisition Corporation has assembled a team of executives and entrepreneurs from some of the most successful multinational companies in the world to lead our SPAC. The sponsor team structure was carefully designed to provide relevant experience and networks in the region, ensure the success of the SPAC and the continued growth of the business it acquires. The team brings a combined 100+ years of relevant market experience in Southeast Asia, directly related to sustainability, finance, supply chain, e-commerce and big data and how to monetize B2C and B2B relationships in a digital world. For more information, visit http://www.fatprojectscorp.com/
About Fat Projects Private Limited
Fat Projects is a Singapore headquartered investment and venture studio established in 2015 with growth capital deployed across a portfolio of assets in Technology, Fintech, Education, Hospitality, E-commerce, Food Technology. Our mission is to build and accelerate entrepreneurial projects with fun, talented, resilient, and ethically committed people; with a laser focus on unlocking shareholder value.
The company was co-founded by David Andrada and Tristan Lo, two partners who respectively bring a nexus between 20 years of high end global banking and a 20 year career built on entrepreneurialism. These polarising skill sets come together to provide a very unique approach when creating new projects in-house or accelerating existing projects we join.
We have two parts to our studio. Firstly, we love building start-ups. Fat Projects takes a hands-on approach to its own ventures through deployment of its own capital, identifying co-founders and assisting with strategy, technology and further capital initiatives along the way. Secondly, we love accelerating emerging growth companies who are looking to scale and solve big problems through a tech-enabled and entrepreneurial approach. For more information, visit http://www.fatprojects.com/