PTK.U 1C , 1W (1/2 share)
2 warrants + $11.50
NEW YORK, July 15, 2020 /PRNewswire/ -- PTK Acquisition Corp. (NYSE: PTK.U, the "Company") announced today that it closed its initial public offering of 11,500,000 units at $10.00 per unit, including 1,500,000 units sold as part of the underwriter's overallotment option. Each unit consists of one ordinary share and one warrant to purchase one half of one share at $11.50 per whole share.
Chardan acted as sole book running manager in the offering.
Our founders are Timothy Chen, Ker Zhang, Peter Kuo, and John Hui. Mr. Chen is China CEO of VIA Technologies, Inc. (“VIA Technologies”), a global leader in the development and manufacturing of integrated circuits, embedded technology platforms and systems, Mr. Zhang, is an entrepreneur in residence at Kleiner Perkins with extensive prior experience in high technology and Chairman of Crossbar Inc., a developer of innovative random-access memory technology. Mr. Kuo is Co-Founder and Partner at Canyon Bridge Capital Partners (“Canyon Bridge”), a private equity firm investing in technology companies and providing them with access to high-growth Asian markets. Mr. Hui is Chief Strategy Officer at Foxconn Technology Co Ltd (“Foxconn”), the leading multinational electronics manufacturing company. Our founders have more than 80 years of combined experience in technology investing. Mr. Zhang and Mr. Hui specialize in the hardware sector, while Mr. Chen and Mr. Kuo have extensive deal-making experience in M&A within the technology sector generally.
The composition of our management team brings together complementary operational, technical and financial expertise required to identify and execute profitable investments on behalf of PTK Acquisition Corp. Mr. Chen oversees business development at VIA Technologies and is involved in ventures that range from premium content providers and hardware companies from the semiconductor level to systems integrators that enable the application of a wide variety technologies in end-use sectors including AI, IoT, computer vision, autonomous vehicles, healthcare, and smart city applications. Mr. Zhang is a technology hardware expert who holds three US patents and is involved in investment activities of HTC/VIA Group, Softbank China Venture and Shenzhen Capital Group. At Canyon Bridge, Mr. Kuo has been involved in complex change of control transactions, including the $750 million acquisition of Imagination Technologies. Prior to founding Canyon Bridge Mr. Kuo was a Managing Director at Lazard where he worked on transactions worth more than $100 billion. Mr. Hui founded PC manufacturing companies Everex and eMachines and he served as Chief Executive Officer of LCD manufacturer InFocus. Mr. Hui also worked as the Chief Strategy Officer at Foxconn. The combination of technical and financial expertise in the technology sector within our founder team puts us in a strong position to make profitable investments.