Galata Acquisition Corp. (GLTA.U) Prices $125M IPO


Galata Acquisition Corp. (GLTA.U) Prices $125M IPO

Galata Acquisition Corp. announced the pricing of its $125 million IPO and its units are expected to begin trading on the New York Stock Exchange under the symbol “GLTA.U” Friday, July 9.

The new SPAC aims to combine with a target with technology-enabled financial services in emerging markets that has annual market growth significantly in excess of inflation, underpinned by low penetration rates and favorable demographics. Galata is led by CEO Kemal Kaya, President and CIO Daniel Freifeld, and CFO Michael Tanzer.

Total SPAC deal count for 2021 year-to-date is now 366. This offering is expected to close on Tuesday, July 13.

B. Riley Securities is acting as the sole book running manager in the offering. Greenberg Traurig, LLP is serving as Issuer’s Counsel with Reed Smith LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.