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The Assembly Place - Balloting Results

This is probably one of the most usual press releases that went alongside the SGX announcement of the balloting results. The Company released a full presentation deck , which is actually quite informative, with information of upcoming pipeline etc (probably the Company felt that it is safer to release this after the IPO closes and not before). The balloting table is as follows: The IPO has drawn strong interest from prominent institutional funds such as Avanda Investment Management (as investment manager for and on behalf of its fund(s)) and Lion Global Investors Limited (as investment manager for and on behalf of its clients), along with prominent investors, including Mr Han Seng Juan, Mr Rudolf Jurgen August Rolles and Mr Chong Soon Kong @ Chi Suim2 , underscoring strong confidence in TAP's investment proposition. Separate from the Invitation, cornerstone investors, namely Apricot Capital Pte. Ltd., Asdew Acquisitions Pte. Ltd., Cache Capital Pte. Ltd., ICH Synergrowth Fun...
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VTAC - Balloting Results

Vertex Technology Acquisition Corporation Ltd ("VTAC"), a special purpose acquisition company ("SPAC") incorporated for the purpose of effecting an initial business combination, is pleased to announce that it has successfully completed, and received strong demand, for its International Placement and Public Offering.

The Public Offering of 0.6 million Units was approximately 36.0 times subscribed. The International Placement of 11.2 million Units was approximately 8.8 times subscribed.

VTAC Chairman Mr. CHUA Kee Lock (蔡其乐) said, "We believe the strong demand for Units in VTAC underscores the trust that investors have in the competence of our management and the value of our Sponsor's global network, well-established shareholder ecosystem and deep local expertise. The positive result from our IPO is only the beginning. From here on we will focus on achieving a successful initial business combination and seek to create long-term value for the target company and our stakeholders."

The Over-Allotment option was also exercised and additional 2.36m units were issued. The balloting table for the public offer is as below:



Investors who applied for the shares will have a 24% chance of being allotted. Investors who applied for $100,000 or 20,000 shares will get 1,500 shares.

It will be interesting to see how the share price trades when it is listed at 2pm tomorrow as fundamentally, there is no reason why it should trade above $5.

Happy VTACing
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