Novo Tellus SPAC completes IPO of 10m units

The offer price is $5 per share.

Special purpose acquisition company Novo Tellus Alpha Acquisition (NTAA) completed its initial public offering (IPO) of 10,000,000 units, drawing strong demand from both institutional and retail investors.

The offering comprises an international placement of 9,500,000 units to investors, including institutional and other investors in Singapore that are non-U.S. persons located outside the United States and 500,000 offering units by way of a public offer in Singapore. The offering price for each unit is $5, comprising one Class A ordinary share.

Novo Tellus PE Fund 2, the NTAA sponsor, said it is strongly committed to NTAA and has invested $20m of its funds in NTAA. This represents more than 10% of the total number of units and exceeds the 3.5% minimum equity participation requirement prescribed by the Listing Manual of the SGX-ST.

Gross proceeds worth $150m from the offering, as well as the issue and sale of the Cornerstone units and the Sponsor IPO Investment units, will be placed in an escrow account to ensure that investors' funds are directed towards the completion of NTAA's business combination.

Follow the link for more news on

Novo Tellus Alpha Acquisition

Initial public offering

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia