Aura FAT Projects Acquisition Corp. (AFARU), a special purpose acquisition company (SPAC), has closed its initial public offering on Nasdaq and raised $115 million, with a focus on crypto industry assets.
The Cayman Islands-incorporated SPAC raised an impressive $100 million during its April 13 initial public offering (IPO) plus an additional $15 million allocation, bringing its total to $115 million according to an announcement by the signed on April 19.
It also has sponsorship funding with Singapore-based financial services firms Aura Group and Fat Projects. SPAC’s website states that it has a presence in Australia, New Zealand, Singapore, Indonesia, Vietnam, Thailand, Malaysia, and the Philippines.
Aura FAT will target acquisitions in the blockchain sector as it has a stated interest in emerging technology companies dealing with Web3, crypto, digital ledger and electronic gaming assets.
On April 1, Bitcoin (BTC) mining company PrimeBlock announced its merger with 10x Capital Venture Acquisition Corp II SPAC. The merger is valued at $1.3 billion and will make PrimeBlock a publicly traded company.
Related: Self-regulatory organizations grow along with new US crypto regulation.
In late March, Thunder Bridge Capital Partners IV SPAC merged with Japanese crypto exchange Coincheck to form Conicheck Group NV. The merger is valued at $1.25 billion and is expected to list on Nasdaq in the second quarter of this year.