On July 8, FATP announced that it filed a registration statement on Form S-1 with the US Securities and Exchange Commission (SEC) for a proposed US$100 million ($135.9 million) IPO. The company is offering 10,000,000 units at US$10 apiece, consisting of one Class A ordinary share and one-half of one redeemable warrant.
Australian duo David Andrada and Tristan Lo recently incorporated a Singaporean shell company called Fat Projects Acquisition Corp (FATP). They intend to take the company public as a special purpose acquisition company (SPAC), in the hopes of acquiring a business after the IPO.
However, FATP will not be listed on the Singapore Exchange (SGX) as SPACs have yet to be introduced here. Instead, it will be pursuing a SPAC listing on Nasdaq.
