Plutonian Acquisition Corp. Announces Closing of $57,500,000 Initial Public Offering and Full Exercise of Over-Allotment Option
New York, NY, Nov. 15, 2022 (GLOBE NEWSWIRE) — Plutonian Acquisition Corp. (the “Company”) today announced the closing of its initial public offering of 5,000,000 units at $10.00 per unit, including an additional 750,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option. The units are listed on The Nasdaq Capital Market (“Nasdaq”) and began trading on November 10, 2022 under the ticker symbol “PLTNU”. Each unit consists of one share of common stock, one redeemable warrant, and one right to receive one-sixth (1/6) of a share of common stock upon the consummation of an initial business combination. Each warrant entitles the holder thereof to purchase one share of common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of common stock, warrants, and rights are expected to be listed on Nasdaq under the symbols “PLTN”, “PLTNW”, and “PLTNR” respectively.
The Company is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. The Company is not limited to a particular industry or geographic region for purposes of consummating an initial business combination, although it intends to focus its search for a target business on companies engaged in metaverse technologies, tourism and e-commerce related industries in the Asia-Pacific, or APAC, region. The Company is led by Mr. Wei Kwang Ng as its Chief Executive Officer, Chairman and President, and Ke Wang, its Chief Financial Officer.
EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”), acted as the sole book running manager for the offering.
Wilson Sonsini Goodrich & Rosati PC served as legal counsel to the Company. Bracewell LLP served as counsel to EF Hutton.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@efhuttongroup.com.
A registration statement on Form S-1 (File No. 333-267742) relating to these securities was filed with, and declared effective by, the Securities and Exchange Commission (“SEC”) on November 9, 2022. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering, the anticipated use of the net proceeds thereof and the Company’s search for an initial business combination. No assurance can be given that the net proceeds of the initial public offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contact:
Plutonian Acquisition Corp.
1441 Broadway, 3rd, 5th & 6th Floors
New York NY 10018
Wei Kwang Ng
Chief Executive Officer, Chairman and President
(646) 969-0946
