Quetta Acquisition Corporation (QETAU) Prices $60M IPO


Quetta Acquisition Corporation (QETAU) Prices $60M IPO

Quetta Acquisition Corporation (Nasdaq: QETAU) announced the pricing of its $60 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “QETAU” on Friday, October 6, 2023. Once the securities comprising the units begin separate trading, the common stock and rights are expected to be listed on NASDAQ under the symbols “QETA” and “QETAR”, respectively.

The new company intends to combine with an Asian digital asset exchange with an enterprise value between $250 million and $1 billion. Quetta is led by Chairman and CEO Hui Chen and CFO Robert L. Labbe.

Total SPAC deal count for 2023 year-to-date is now 23. This offering is expected to close on Tuesday, October 10, 2023.

EF Hutton, division of Benchmark Investments, LLC, is acting as sole book-running manager in the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as co-manager in the offering. Loeb & Loeb LLP is serving as Issuer’s Counsel with Robinson & Cole LLP serving as Underwriter’s Counsel.  MaloneBailey, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.