The technology marketplace is characterized by continual evolution as ongoing technological innovation helps create new markets and applications for both new and existing technologies.

This dynamic requires technology companies to continually make substantial investment in research and development in the pursuit of growth and the maintenance of market leadership positions. This requirement for ongoing investment can often strain a company’s resources and challenge their ability to adequately fund research and development.

Furthermore, as historically high rates of growth have slowed in some of the more mature sectors of the industry, some businesses, despite leading market positions and attractive product portfolios, have not sufficiently adapted their cost structure and have experienced deterioration in their financial performance.

The Company has not, nor has anyone on its behalf, contacted any prospective target business or had any substantive discussion, formal or otherwise, with respect to such a transaction. Additionally, the Company has not sought, nor has is engaged or retained any agent or other representative, to identify or locate any suitable acquisition candidate, conduct any research or take any measures, directly or indirectly, to locate or contact a target business.

The Company is focused on identifying a prospective target business in the technology industry, however, it will not be limited to a specific industry. The Company does not currently have any specific initial business combination under consideration.

The Company will generate non-operating income in the form of interest income on cash and cash equivalents after the offering.

After the offering, the Company expects to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.