Novo Tellus Alpha Purchase to provide 1m systems under over-allotment alternative

NOVO Tellus Alpha Purchase NTA worked out component of its over-allotment alternative to provide over 1 million systems on Friday (Feb 25).

Complying with the workout’s conclusion, the overall variety of the unique function procurement business’s (SPAC) systems in concern will certainly boost from 30 million to a bit greater than 31 million.

The over-allotment alternative was formerly made understood on Jan 26, a day prior to it made its trading launching at S$ 5 on the Singapore Exchange’s mainboard.

The alternative permits the business’s securing supervisor, Credit rating Suisse Singapore, to subscribe, on 1 or even more events, for as much as an accumulation of 2 million systems, standing for not greater than 20 percent of the overall variety of providing systems, to take on securing activities.

On Friday, Novo Tellus Alpha Purchase introduced that “the securing supervisor has, on Feb 25, 2022 worked out the over-allotment alternative partially, in regard of 1,018,500 systems which were not covered by acquisitions made under the cost securing activity, out of the 2,000,000 systems which had actually been over-allotted about the offering”.

Its shares shut down 0.8 percent or S$ 0.04 at S$ 4.90 prior to the statement on Friday.

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