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The merger between Super Apps Holdings and Technology & Telecommunication Acquisition Corporation will lead to Super Apps becoming publicly traded as TETE Technologies Inc. This transaction values the combined entity at approximately $1.1 billion. The deal includes a partnership with MobilityOne Sdn. Bhd. to enhance payment systems in the ASEAN market. Super Apps projects revenues of $348 million for the fiscal year ending December 31, 2023, leveraging its fintech solutions and strategic collaborations. The transaction is expected to close in the first half of 2023, pending shareholder approval.
Technology & Telecommunication Acquisition Corporation has successfully completed its IPO, raising $115 million by issuing 11.5 million units at $10.00 each. Each unit comprises one Class A ordinary share and one redeemable warrant, with the latter granting the ability to purchase additional shares at $11.50. The units began trading on Nasdaq under the ticker 'TETEU' on January 18, 2022. Although the company is a blank check entity without a specific target for acquisition, it aims to focus on companies within the technology and telecommunications sectors in Malaysia.
Technology & Telecommunication Acquisition Corporation has announced the pricing of its initial public offering (IPO) of 10 million units at $10.00 each, set to begin trading on Nasdaq under the ticker symbol 'TETEU' on January 18, 2022. Each unit consists of one Class A ordinary share and one redeemable warrant, allowing the purchase of a share at $11.50. The company aims to pursue a merger or acquisition target, focusing on technology and telecommunications sectors in Malaysia. The offering is expected to close on January 20, 2022, subject to standard closing conditions.
