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PTK Acquisition Corp. (PTK.U) Prices $100M SPAC IPO


PTK Acquisition Corp. (PTK.U) Prices $100M SPAC IPO

Jul 13, 2020 INTEL by Kristi Marvin

PTK Acquisition Corp. (PTK.U), announced the pricing of their $100 million SPAC IPO this morning and the units are expected to begin trading today, Monday, July 13th, under the symbol NYSE: PTK.U

PTK Acquisition Corp. intends to focus on companies in “high-tech” industries and will be led by Peter Kuo, as Chief Executive Officer and Director, and Timothy Chen, as Chief Financial Officer and Director.

Total SPAC deal count for 2020 year-to-date is now 40 with $12.523 billion in gross proceeds raised. The offering is anticipated to close on Wednesday, July 15, 2020.

Chardan is acting as sole book running manager. Goodwin Procter LLP, and Ropes & Gray LLP were issuer’s counsel and underwriter’s counsel, respectively. Marcum LLP acted as auditor.