Generation Asia I Acquisition Limited Announces Pricing of $200 Million Initial Public Offering

NEW YORK and HONG KONG, January 19, 2022 — Generation Asia I Acquisition Limited (the “Company”) announced today that it priced its initial public offering of 20,000,000 units at $10.00 per unit. The units will be listed on The New York Stock Exchange (“NYSE”) and trade under the ticker symbol “GAQ.U” beginning January 20, 2022. Each unit consists of one Class A ordinary share of the Company, par value US$0.0001 per share (the “Class A Ordinary Share”), and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A Ordinary Share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A Ordinary Shares and redeemable warrants are expected to be listed on NYSE under the symbols “GAQ” and “GAQWS,” respectively. The offering is expected to close on January 24, 2022, subject to customary closing conditions.

The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). While the Company may pursue the Business Combination with a company in any industry, sector or geographic region (excluding China, Hong Kong and Macau), the Company intends to focus its search on a target that is at least partially owned by a financial sponsor(s) with operations or prospective operations in the technology, media & telecommunications, business services, or consumer sectors across Asia, in particular North Asia and Southeast Asia.

In connection with the consummation of the offering, certain qualified institutional buyers or institutional accredited investors have entered into forward purchase agreements with us that provide for the purchase of an aggregate of 8,000,000 forward purchase units, each consisting of one Class A Ordinary Share and one-quarter of one warrant to purchase one Class A Ordinary Share at $11.50 per share, for an aggregate purchase price of $80,000,000, or $10.00 per unit, in a private placement to close concurrently with the closing of the Business Combination.

Nomura Securities International, Inc. is acting as the global coordinator and sole bookrunner of the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price less the underwriting discount to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from the Securities and Exchange Commission (the “SEC”) website,, or by writing to Equity Syndicate Department, Nomura Securities International, Inc., Worldwide Plaza, 309 West 49th Street, New York, New York 10019-7316, or by telephone at 212-667-9000, or by email at

A registration statement relating to the securities was declared effective by the SEC on January 19, 2022. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to (i) the proposed initial public offering, (ii) the anticipated use of the net proceeds thereof, and (iii) the plan for and consummation of the Business Combination. No assurance can be given that the offering will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement for the Company’s offering filed with the SEC and the preliminary prospectus included therein. Copies of these documents are available on the SEC’s website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Contact: 

Katherine Chan
Telephone: +852 2131 8900