DUET Acquisition Corp. announces the closing of the IPO

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KUALA LUMPUR, MALAYSIA, Jan. 24, 2022 (GLOBE NEWSWIRE) — DUET Acquisition Corp. (Nasdaq: DUETU) (the “Company”) today announced the closing of its initial public offering of 7,500,000 units at $10.00 per Unit (the “Offering”). Each unit consists of one Class A common share of the Company and one redeemable warrant. Each warrant entitles its holder to purchase one Class A common share at a price of $11.50 per share. The underwriters exercised their over-allotment option in full for an additional 1,125,000 units upon closing of the offering. Accordingly, the total gross proceeds of the Offering, including the Over-Allotment, is approximately $86.25 million, before deduction of underwriting rebates, commissions and other expenses of the Offering.

The Company’s shares began trading on the Nasdaq Global Market on January 20, 2022 under the symbol “DUETU”. Once the securities comprising the Units begin trading separately, the Common Stock and Warrants are expected to trade on the Nasdaq Global Market under the symbols “DUET” and “DUETW”, respectively.

The Company is a blank check corporation incorporated for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses . The Company has not selected any specific business combination target and has not engaged, or anyone on its behalf, in substantive discussions, directly or indirectly, with any business combination target. While the Company may pursue an initial business combination objective in any business or industry, it intends to focus its research on industries that complement the experience of its management team and capitalize on the capacity and experience of its management team. The main area of ​​focus will be disruptive and change-making technology companies capitalizing on the digital shift. These “enabling technology companies” encompass a wide range of capabilities from holistic e-commerce, fintech and big data analytics to robotic process automation. The company is led by Larry Gan Nyap Liou, Chairman of the Company’s Board of Directors, and Yeoh Oon Lai and Dharmendra Magasvaran, Co-Chief Executive Officers of the Company.

EF Hutton, a division of Benchmark Investments, LLC, acted as sole bookrunner for the Offering. Nelson Mullins Riley & Scarborough LLP acted as legal counsel to the Company. McDermott Will & Emery LLP acted as counsel to EF Hutton, a division of Benchmark Investments, LLC.

The units described above were offered by the Company pursuant to a registration statement on Form S-1 (File No. 333-261494) which was originally filed with the Securities and Exchange Commission (“SEC”) on December 3, 2021 and declared effective. on January 19, 2022. The Offering has been made solely by means of a prospectus, copies of which 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 phone at (212) 404-7002, by fax at (646) 861-4697 or by email at [email protected]

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. prior to registration or qualification. under the securities laws of such state or territory.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements”, including with respect to the Company’s initial public offering and the search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Offering filed with the SEC. . Copies are available on the SEC website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
Larry Gan Nyap Liou
President of the council
Email: [email protected]
Telephone: +60 3-9201 1087 / +60 11-5695 7895

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