Private Equity

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Fintech focused SPAC McLaren Technology raises $201-M via Nasdaq IPO

Press Release  

McLaren Technology Acquisition Corp. has closed its initial public offering of 20,125,000 units, including 2,625,000 units issued to the underwriters upon full exercise of their over-allotment option, at $10.00 per unit. The units are listed on the Nasdaq Global Market. Mizuho Securities USA LLC (“Mizuho”) acted as the sole book running manager for the offering. McLaren Technology is a blank check or SPAC company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. It intends to focus its search on companies within the banking, financial services and insurance sector that leverage artificial intelligence, machine learning, digital, technology, and fintech. The SPAC is led by Chairman and Chief Executive Officer, Sajan Pillai, Chairman of McLaren Strategic Ventures Holdings Group and former Chief Executive Officer of UST Global, President and Director, John Vilina, CFO/COO of McLaren Strategic Ventures Holdings Group, Chief Operating Officer, Murali Gopalan, Head of Consulting/Advisory for McLaren Strategic Solutions and former Chief Commercial Officer of UST Global, and Chief Financial Officer, Rajeev Nair, President of Techurate USA.