Evergreen Acquisition Corp., a special purpose acquisition company (SPAC), or a blank check company dedicated to companies committed to technological advancements, is now officially trading on the Nasdaq under the symbol "EVGRU" after raising $100 million. It will close on its initial public offering this week.
In the transaction, a Pryor Cashman team led by Corporate Group partners Michael Campoli and Elizabeth Chen represented the underwriter, financial services company EF Hutton.
According to SPAC Insider:
Evergreen Acquisition Corp. announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol "EVGRU" Wednesday, February 9.
The new SPAC intends to focus its search on technology companies involved in Artificial Intelligence (AI), FinTech and Financial Services, the Metaverse, the Internet of Things (IoT), eCommerce, social commerce, Industry 4.0 (IR4.0), as well as areas surrounding the new digital economy, in the ASEAN region. Evergreen is led by the Chairman of the Board Liew Choon Lian, and CFO Izmet Iskander Bin Mohd Ramli.
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