Loeb & Loeb Pilots Tech-Focused SPAC's $100M Upsized IPO

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By Charlie Innis (April 20, 2022, 3:24 PM EDT) — Yotta Acquisition Corp., a Loeb & Loeb LLP-led special-purpose acquisition vehicle targeting a number of technology industries, kicked off trading Wednesday after raising $100 million in an upsized initial public offering, as two other blank-check companies pulled out of their floats.

Yotta Acquisition offered 10 million units at $10 per unit after increasing its IPO size from 6 million units last week, according to an announcement. The upsized offering comes as two other SPACs — Gateway Strategic Acquisition Co. and Avanea Energy Acquisition Corp. — withdraw their IPO plans, adding to a spate of cancellations as the public markets at large…

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