Shares & Derivatives
Pegasus Asia – SPAC
By Mr. IPO  •  January 16, 2022

Pegasus Asia is offering 25.6m units at $5 each. Each unit will comprise one share and half a warrant. 25m Units will be via placement and 600,000 Units will be via a public offer. The public offer will close on 19 Jan at 12pm and will commence trading on 21 Jan 2022 at 9am. The market cap will be around $150m.  There is an over-allotment option of up to 4m Units. This will be the second SPAC after VTAC to be listed on SGX.
While I like the logo, this Prospectus is a "wasted" opportunity
Compared to the VTAC prospectus, this issuance paled in comparison.  Pegasus Asia failed to make use of the gatefolds to better explain their story and intent whereas VTAC had 7 pages of colorful infographics to tell its story, so kudos to the VTAC team!
Given the SPAC has no businesses to evaluate and is basically a shell company...
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By Mr. IPO
Mr. IPO graduated from NTU with a Bachelor in Accountancy (Honors) and started life as a lowly auditor. The audit experience not only polished up his accounting skills but also made him very skeptical about the financial records of companies. He always read the financial reports with a huge dose of salt ...

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