New York, NY, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Plutonian Acquisition Corp. (the “Company”) announced today that it priced its initial public offering of 5,000,000 units at $10.00 per unit. The units will be listed on The Nasdaq Capital Market (“Nasdaq”) and are expected to begin trading on November 10, 2022, under the ticker symbol “PLTNU”. Each unit consists of one share of common stock, one redeemable warrant, and one right to receive one-sixth (1/6) of a share of common stock upon the consummation of an initial business combination. Once the securities comprising the units begin separate trading, the shares of common stock, warrants, and rights are expected to be listed on Nasdaq under the symbols “PLTN”, “PLTNW”, and “PLTNR” respectively.
The Company is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. The Company is not limited to a particular industry or geographic region for purposes of consummating an initial business combination, although it intends to focus its search for a target business on companies engaged in metaverse technologies, tourism and e-commerce related industries in the Asia-Pacific, or APAC, region. The Company is led by Mr. Wei Kwang Ng as its Chief Executive Officer, Chairman and President, and Ke Wang, its Chief Financial Officer.
EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”) is acting as sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 750,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on November 14, 2022, subject to customary closing conditions.
Wilson Sonsini Goodrich & Rosati PC is serving as legal counsel to the Company and Bracewell LLP is serving as counsel to EF Hutton.
The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@efhuttongroup.com.
A registration statement on Form S-1 (File No. 333-267742) relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on November 9, 2022.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact
Plutonian Acquisition Corp.
1441 Broadway, 3rd, 5th & 6th Floors
New York NY 10018
Wei Kwang Ng
Chief Executive Officer, Chairman and President
(646) 969-0946
