India focussed SPAC led by Indian founders raises $200 Mn in Nasdaq
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StoneBridge Acquisition Corporation (SBAC) which is a Special Purpose Acquisition Vehicle (SPAC) targeting “new economy sectors” in Asia Pacific and particularly in India, announced that it has raised $200 Mn (INR 1400 Cr) in an IPO in the US by offering 20 Mn units at $10. A blank cheque company or SPAC launches an IPO with specific investment criteria and then merges with or acquires companies that fit that criteria
