Super Apps, a payments technology company, will list in the United States through a $1.1 billion SPAC offering

News update

According to the companies, Super Apps Holdings would merge with a special purpose acquisition company and then go public in the United States, valuing the Malaysian payments technology company at $1.1 billion. Prior to the finalization of the deal with Technology & Telecommunication Acquisition Corporation, Super Apps will purchase 60% of OneShop Retail from fintech MobilityOne.

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According to Super Apps, the money from the merger would be used to hire more people. TETE Technologies Inc. will be the name of the combined company, which will be listed on Nasdaq. Technology and telecommunications acquisition SPAC went public in January and raised $115 million in its IPO.

SPACs are front companies that partner with private companies to take them public after raising funds through initial public offerings. interest has waned.

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