Novo Tellus Alpha Acquisition, a spac backed by fund manager Novo Tellus, has lodged its preliminary prospectus to raise $150 million, joining the trio of spac offerings that include Vertex Technology Acquisition Corp and Pegasus Asia.
The offer totals 10 million units priced at $5 each. It consists of 9.5 million units in the placement tranche and 0.5 million units set aside for retail investors to apply.
In addition, a group of cornerstone investors are taking up 16 million units, raising another $80 million. Novo Tellus, as the sponsor, is itself taking up 4 million units, or $20 million.