PHP Ventures Acquisition Corp.
PPHPU
NASDAQ Capital Market11.20
USD
+0.11
- -
CIK
0001863460
ISIN
US69291C2052
CUSIP
69291C205
Return %
Stock
S&P500
1Y
7.18
18.21
3Y
11.44
64.38
5Y
11.44
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Marcus Choo Yeow Ngoh
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- Corporate Tower Subang Square Subang Jaya Malaysia 47500
- IPO Date
- Aug 12, 2021
- CIK
- 0001863460
- Website
- phpventures.com
- Similar Companies
- Business
- PHP Ventures Acquisition Corp. is a special purpose acquisition company (SPAC) formed with the primary objective of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses. The company is led by Marcus Choo Yeow Ngoh as Chair of the Board and Chief Executive Officer, with Garry Richard Stein serving as Chief Financial Officer. Founded in 2021 and headquartered in the United States, PHP Ventures Acquisition Corp. is sponsored by Global Link Investment LLC. The company's core business is facilitating business combinations; it does not manufacture or sell products directly but operates as a blank check company to acquire or merge with other companies. In December 2022, PHP Ventures Acquisition Corp. entered into a definitive agreement for a business combination with Modulex Modular Buildings Plc, a UK-based ConstrucTech company specializing in the manufacture of 3D volumetric steel modular buildings. Modulex incorporates advanced technologies such as artificial intelligence, blockchain, and the Internet of Things into its modular building solutions. This strategic transaction is expected to result in Modulex becoming a publicly listed company on the Nasdaq under the ticker symbol "MDLX," with PHP Ventures Acquisition becoming a subsidiary of Modulex upon completion. Major recent company developments include the announcement and progression of this business combination valued at approximately $723 million, which was anticipated to close in 2023 subject to regulatory and shareholder approvals. However, PHP Ventures Acquisition Corp.'s securities were suspended from trading on Nasdaq in April 2024, and related delisting procedures followed, though efforts to consummate the initial business combination have seen extensions and funding confirmations to meet transaction deadlines. The company targets the ConstrucTech segment through its merger with Modulex, aiming at customers requiring modular construction solutions across Europe and beyond. This includes commercial, industrial, and infrastructure customers leveraging cutting-edge modular building technology. As a SPAC, PHP Ventures Acquisition Corp. plays a pivotal role as an investment vehicle facilitating access to capital markets for innovative companies like Modulex that operate in high-growth technology-driven construction sectors. In summary, PHP Ventures Acquisition Corp. is a US-based blank check company focused on completing business combinations, most notably with Modulex Modular Buildings Plc, a leader in 3D volumetric modular building technology using AI and blockchain, with recent efforts emphasizing transaction completion and Nasdaq listing preparations amidst regulatory and market challenges.