The offering price of $5.00 per unit comprises one Class A ordinary share and 0.5 public warrant per unit. Each whole warrant entitles the unitholder to subscribe for one Class A share at the warrant exercise price of $5.75 per Class A share.
Novo Tellus Alpha Acquisition, the spac backed by Novo Tellus Capital Partners, has enjoyed a 3.4 times subscription rate of its IPO.
Its local public offer of 500,000 units was about 7.6 times subscribed, while its international offering of 9.5 million units was about 3.1 times subscribed at the close of 12 noon on Jan 25.
