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INSIGHTS FROM CFA SOCIETY SINGAPORE

What retail investors should know about Vertex Spac’s business combination with 17Live

The merger requires careful due diligence by investors who need to understand the de-Spac process and be mindful of risks

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    • VTAC, led by non-executive chairman Chua Kee Lock, has endorsed the merger, citing 17Live’s strong management, the potential for scale and its alignment with Vertex Holdings’ areas of expertise.
    • VTAC, led by non-executive chairman Chua Kee Lock, has endorsed the merger, citing 17Live’s strong management, the potential for scale and its alignment with Vertex Holdings’ areas of expertise. PHOTO: BT FILE
    Dexter Tiah

    Dexter Tiah

    Published Tue, Nov 28, 2023 · 04:11 PM

    VERTEX Technology Acquisition Corp (VTAC), Singapore’s pioneering special purpose acquisition company (Spac), announced its intention to merge with 17Live Holding Ltd (17Live) and acquire all issued share capital of 17Live Inc. This charts a significant development in the Spac landscape.

    As Singapore’s first Spac, VTAC made its market debut on 20 January 2022 amid a global interest in blank-cheque companies. With an initial public offering (IPO) price set at S$5 per share, it succeeded in raising S$208 million in gross proceeds. IPO participants received one ordinary share plus a fraction of a warrant per share.

    This article aims to share vital considerations for retail investors who have engaged with VTAC from its IPO and those considering participation, especially in light of guidelines highlighted by the Singapore Exchange (SGX) and CFA Institute.

    CFA Singapore InsightsSPACVertex Technology Acquisition Corp (VTAC)

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