Unicorn hunt: Aussie SPAC targets big deal after NASDAQ IPO
A Melbourne-based team led by a former McKinsey and Citigroup executive has kicked off the hunt to identify and buy a fast-growing Australian technology company, which will be listed on the NASDAQ, after it successfully listed its special purpose acquisition company (SPAC) on the US market in a $US115 million ($155.8 million) initial public offering.
The company, currently known as Integral Acquisition Corporation 1, listed on the NASDAQ last week and has begun contacting founders of prospective targets, with the promise of a funding injection to the tune of up to $US145 million ($196.6 million), which will see the company take over the SPAC shell and become a NASDAQ-listed stock.
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