Local technology and well diversified listed company, Serba Dinamik Holding Berhad had boldly ventured out of its comfort zone to invest in a SPAC company listed in the US Stock Exhange. The Nasdaq listed Dark Knights Acquisition Corp will have a total investment of USD5.85 million (equivalent to approximately RM24.10 million) as capital for future acquisitions from Serba Dinamik.
SPACS are known as blank check company’s and are 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. In its filing Dark Knight plans to leverage its management team’s experiences and target the data centers and internet technology sectors, which are focusing on disruptive technologies and business platforms. The United Kingdom based-company is planning to raise $100 million to $115 million via this initial public offering exercise.
Dark Knight is led by Chief Executive Officer and Chairman Barry Anderson, who is also the Chief Executive Officer of Present D’Lloyd Technologies, and Chief Financial Officer Firdauz Mokhtar, who serves as a Senior Vice President of Special Project at Serba Dinamik. Firdauz Mokhtar, a Chartered Accountant of the Malaysian Institute of Accountants, he has experience in management of financial risks, financial planning and financial activities having worked at various conglomerate.
SPAC’s are all the rage in the financial markets, with low entry cost and managed industry experts, they offer a new perspective in public listing for fast growing companies.