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McLaren Technology Acquisition Corp. (MLAIU) Prices $175M IPO


McLaren Technology Acquisition Corp. (MLAIU) Prices $175M IPO

McLaren Technology Acquisition Corp. announced the pricing of its $175 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “MLAIU” Wednesday, November 3.

The new SPAC intends to focus its search on companies within the banking, financial services and insurance sector that leverage artificial intelligence, machine learning, digital, technology, and fintech. The Company is led by Chairman and Chief Executive Officer, Sajan Pillai, Chairman of McLaren Strategic Ventures Holdings Group and former Chief Executive Officer of UST Global, President and Director, John Vilina, CFO/COO of McLaren Strategic Ventures Holdings Group, Chief Operating Officer, Murali Gopalan, Head of Consulting/Advisory for McLaren Strategic Solutions and former Chief Commercial Officer of UST Global, and Chief Financial Officer, Rajeev Nair, President of Techurate USA.

Total SPAC deal count for 2021 year-to-date is now 508. This offering is expected to close on Friday, November 5.

Mizuho Securities USA LLC is acting as the sole book running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Greenberg Traurig, LLP serving as Underwriter’s Counsel. Marcum, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.