SPAC Circle Acquisition filed for an initial public offering of $150 million.
The special-purpose acquisition company plans to offer units for $10 apiece, with each consisting of one share, one redeemable warrant and the right to receive one-third of a share upon consummation of an initial business combination, according to Securities and Exchange Commission filing on Tuesday.
Each whole warrant entitles the holder to buy a share for $11.50.
The company expects to generate $147 million in total proceeds.
SPAC Circle wants to find an acquisition target that aligns with its leadership's experience, including companies in the digital assets, technology and healthcare industries.
The company is led by Chief Executive John Dicconson, who has served as chief executive of Tech Care Now Associates for 16 years.
SPAC Circle intends to trade shares on Nasdaq under the ticker SCQC.