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Cetus Capital 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 will begin trading on Wednesday, February 1, 2023, under the ticker symbol "CETUU". Each unit consists of one share of the Company's Class A common stock, one redeemable warrant, and one right. Each warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at a price of $11.50 per share. Each right entitles the holder thereof to receive one-sixth (1/6) of one share of Class A common stock upon consummation of the Company's initial business combination. Once the securities comprising the units begin separate trading, the Class A common stock, warrants and rights will be listed on Nasdaq under the symbols "CETU", "CETUW" and "CETUR", respectively.
The Company is a blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company has not selected any specific business combination target and has not, nor has anyone on its behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target. Although the Company's efforts to identify a target business will not be limited to any particular industry or geographic region, the Company will not consider or undertake a business combination with an entity or business that is based in, or that has its principal or a majority of its business operations (either directly or through any subsidiaries) in, the People's Republic of China, including Hong Kong and Macau, and we will not consummate our initial business combination with an entity or business with China operations consolidated through a variable interest entity ("VIE") structure. However, the Company intends to focus its search for a target business in the industrials, information technology and Internet-of-Things industries with an intention to initially prioritize Taiwan. The Company is led by Chung-Yi Sun, the Company's Chief Executive Officer, President and Chairman of the Board of Directors.
Posted In: CETU