SPAC Shreya Acquisition Group prices $100 million IPO, targeting hospitality
IPO Overview
Shreya Acquisition Group, a blank check company targeting the hospitality, wellness, media, and other sectors, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, one warrant exercisable at $11.50, and one right to receive a one-fourth of one share at the time of the business combination.
Shreya Acquisition Group is led by CEO and Director Anuj Goyal, the founder of RBI-registered non-banking financial company Mudraksh Investfin. The SPAC plans to target a variety of sectors, including health and wellness, hospitality, media and entertainment, shipping, infrastructure, and waterways tourism.
The New York, NY-based company will trade on the NYSE under the symbol SAGUU. D. Boral Capital acted as sole bookrunner on the deal.
About the Company
We are a blank check company. Our efforts to identify a prospective target business will not be limited to a particular industry or geographic location although we intend to focus our search for a target business on companies engaged in the health and wellness, hospitality, media and entertainment, shipping, infrastructure, and waterways tourism sectors. We do not have any specific business combination under consideration and we have not （nor has anyone on our behalf）， directly or indirectly, contacted any prospective target business or had any substantive discussions, formal or otherwise, with respect to such a transaction. Additionally, we have not engaged or retained any agent or other representative to identify or locate any suitable acquisition candidate, to conduct any research or take any measures, directly or indirectly, to locate or contact a target business. We believe we are well positioned to identify, evaluate, and execute a successful business combination within the identified sector which includes amongst others hospitality, healthcare and wellness, and media and entertainment industries.