SPAC ARC Group Acquisition I decreases shares offered by 30% ahead $105 million IPO
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ARC Group Acquisition I has reduced its IPO offering by 30%, now planning to raise $105 million by offering 10.5 million units at $10 each, down from the previously proposed 15 million units. Each unit includes one share of common stock, one warrant, and a right to receive a fraction of an ordinary share upon a business combination. Led by CEO Datuk Wong, the SPAC aims to target businesses with enterprise values over $700 million and plans to list on Nasdaq under the symbol ARCLU.
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