Bloomberg: MAK Acquisition Files $100M SPAC IPO Led by Ex-Dye & Durham Execs

MAK Acquisition Corp., a Toronto-based special purpose acquisition company (SPAC) led by former Dye & Durham Ltd. executives, has filed for a $100 million initial public offering (IPO) in Canada, according to Bloomberg.com. The company submitted a preliminary prospectus to Canadian regulators proposing the sale of 10 million units at $10 per unit to reach its fundraising goal. Upon completion, MAK Acquisition Corp. expects its securities to be listed on the Toronto Stock Exchange. The filing reveals the company's intention to leverage investor interest in the technology and defense sectors. As a blank-check company, the IPO seeks to raise capital for potential acquisitions or mergers within these industries, representing a new venture for the former Dye & Durham executives seeking to utilize public market funds for strategic investments.