Cactus Acquisition Corp. 1 Ltd

Cactus Acquisition Corp. 1 Ltd is a blank check company, also known as a Special Purpose Acquisition Company (SPAC), formed on April 19, 2021, as a Cayman Islands exempted company. Its sole purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more operating businesses. The company has not generated any revenues to date and does not expect to generate operating revenues until it completes its initial business combination. Initially, Cactus Acquisition Corp. 1 Ltd focused its search on technology-based healthcare businesses domiciled in Israel, or those with significant Israeli connections. Following a sponsor alliance and the appointment of new directors and management, the company shifted its focus to emerging technology companies globally, with a particular emphasis on the renewables sector. The current sponsor is ARWM Inc Pte. Ltd. On November 2, 2021, Cactus Acquisition Corp. 1 Ltd completed its initial public offering (IPO), selling 12,650,000 units at $10 per unit, totaling $126,500,000. Each unit comprised one Cactus Class A ordinary share (12,650,000 total shares) and one-half of one Cactus public warrant (6,250,000 total public warrants). Each whole warrant allows the holder to purchase one Cactus Class A ordinary share at $11.50 per share. An additional $2,530,000 was invested by the initial sponsor. The IPO raised total gross proceeds of $129,030,000, all of which was deposited into a Trust Account.