Distoken Acquisition Corp closes IPO of 6.9M units at $10/unit, gross $69M

Distoken Acquisition Corp

Closed IPO of 6,900,000 units (incl. full over-allotment) at $10.00 per unit; gross proceeds $69M.
Private placement of 545,000 units to sponsor at $10/unit, raising $5.45M; no underwriting discounts.
Net IPO and placement proceeds of $70.38M deposited in trust account for future business combination.
Company will focus on technology businesses in Asia; no VIE structure used in any combination.
Units trade on Nasdaq (DISTU); ordinary shares, warrants, rights to trade separately under DIST, DISTW, DISTR.

item 1.01 item 3.02 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Distoken Acquisition Corp: Amended and Restated Memorandum and Articles of Association filed and effective (effective 2023-02-15).

Change: charter amendment
Effective: 2023-02-15

Exact text from the filing

On February 15, 2023, in connection with the IPO, the Company filed its Amended and Restated Memorandum and Articles of Association with the Cayman Islands General Registry, effective the same day.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

Distoken Acquisition Corp entered into Underwriting Agreement with I-Bankers Securities, Inc. valued at Underwriting agreement for IPO of 6,900,000 units at $10.00 per unit, generating gross proceeds of $ (effective 2023-02-15).

Action: entry
Agreement: underwriting
Counterparty: I-Bankers Securities, Inc.
Value: Underwriting agreement for IPO of 6,900,000 units at $10.00 per unit, generating gross proceeds of $
Effective: 2023-02-15

Exact text from the filing

On February 17, 2023, Distoken Acquisition Corporation (the “ Company ”) consummated its initial public offering (the “ IPO ”) of 6,900,000 units (the “ Units ”), including 900,000 additional Units issued pursuant to the full exercise by the underwriters of their over-allotment option (the “Over-Allotment Option”). Each Unit consists of one ordinary share, par value $0.0001 per share of the Company (the “ Ordinary Shares ”), one redeemable warrant (the “ Public Warrants ”), each Public Warrant exercisable to purchase one Ordinary Share at an exercise price of $11.50 per share, and one right to receive one-tenth (1/10) of one Ordinary Share upon the consummation of the Company’s initial business combination.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

Distoken Acquisition Corp entered into Business Combination Marketing Agreement with I-Bankers Securities, Inc. valued at Business Combination Marketing Agreement entered into in connection with IPO (effective 2023-02-15).

Action: entry
Counterparty: I-Bankers Securities, Inc.
Value: Business Combination Marketing Agreement entered into in connection with IPO
Effective: 2023-02-15

Exact text from the filing

15, 2023 , between the Company and I-Bankers Securities, Inc., as representative of the several underwriters; A Business Combination Marketing Agreement, dated

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-23-023349

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