Novo Tellus Alpha Acquisition, a Singapore-based unique function acquisition business (SPAC), stated on Wednesday it was still pursuing buyout targets, rejecting media reports that it was looking for to end on its operations.
“The activities to recognize an optimum service mix target are continuous”, however it has actually not gone into any composed, binding acquisition arrangement, the business stated in a declaration.
Singapore-listed SPACs have 2 years to get or combine with a business, with the alternative for a 1 year extension, based on particular conditions.
Backed by personal equity company Novo Tellus, the shell business’s due date to get or combine with another organization is January 2024.
Novo Tellus likewise stated on Wednesday it had actually raised $510 million for its 3rd personal equity fund called Novo Tellus PE Fund 3, exceeding its fundraising target by 36%.
Previously in the day, SPAC Pegasus Asia, backed by alternative property supervisor Tikehau Capital, stated it would not make an acquisition by a Jan. 20 due date and would shut down.
Reuters