Kew Media Group brings SPAC offering to market with a shorter time period to get a qualifying transaction done

, Bitcoin News

Instead of the sponsors having two years to consummate a so-called qualifying transaction, the gang at Kew has variable time period in which to get a deal done.

On cue.

A few days after filing a new prospectus — a filing that came after two others have been made over the past six monthsKew Media Group Inc. is about to launch its initial public offering.

In so doing the issuer intends to become the country’s sixth special purpose acquisition company, or SPAC, a structure that has been popular in the U.S. but which has made its way north over the past year. The issuer is seeking $70 million from an offering of units with each unit consisting of a share and half a share purchase warrant. As is the norm, each unit will be priced at $10.

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