SPAC Apogee Acquisition lowers units offered by 40% ahead of $150 million IPO
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Apogee Acquisition, a SPAC focused on advanced technologies, has reduced its IPO size by 40%, now aiming to raise $150 million by offering 15 million units at $10 each. Previously, it planned to offer 25 million units. Each unit includes one share of common stock, a warrant, and a right to receive a fraction of an ordinary share upon a business combination. Led by CEO Jeffrey Smith, the company targets technology firms across various sectors and plans to list on Nasdaq as AACPU, with Arc Group Securities as the bookrunner.
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