Chinese SPAC Wealthbridge Acquisition files for a $50 million IPO
Wealthbridge Acquisition, a blank check company targeting the air transportation industry in China, filed on Friday with the SEC for an initial public offering.
The Hong Kong-based company plans to raise $50 million by offering 5 million units at a price of $10. At that price, Wealthbridge Acquisition would command a market value of $65 million.
Units consist of one ordinary share, one redeemable warrant for one-half of a share, and one right to receive one-tenth (1/10) of an ordinary share upon the consummation of an initial business combination.
The company was incorporated in 2018 and plans to list on the Nasdaq under the symbol HHHU. Chardan Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.
The article Chinese SPAC Wealthbridge Acquisition files for a $50 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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