Malacca Straits Acquisition Co. Ltd. Prices $125M IPO


Malacca Straits Acquisition Co. Ltd. Prices $125M IPO

Jul 14, 2020 INTEL by Kristi Marvin

Malacca Straits Acquisition Company Limited (MLACU), announced the pricing of their $125 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Wednesday, July 15th, under the symbol Nasdaq: MLACU.

Malacca Straits will be focused on the Southeast Asian middle-market with intended targets in the media, food processing, renewable energy and healthcare industries, with an emphasis on business conglomerates.  Kenneth Ng, will be Chief Executive Officer, President and Director, and will be joined by Stanley Wang, as Chief Financial Officer and Director.

Total SPAC deal count for 2020 year-to-date is now 42 with $13.278 billion in gross proceeds raised. The offering is anticipated to close on Friday, July 17, 2020.

BTIG, LLC is acting as the sole book running manager for the offering and I-Bankers Securities, Inc. is acting as co-manager for the offering.  Ellenoff Grossman & Schole LLP and White & Case LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC, acted as auditor.