SPAC Bowen Acquisition prices $60 million IPO, targeting businesses in Asia

Bowen Acquisition, a blank check company targeting businesses in Asia, raised $60 million by offering 6 million unit at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.

The company is led by Chairwoman Na Gai, who currently serves as EVP of Shenzhen Guoxing Capital, and CEO Jiangang Luo, whose current roles include Manager of Cleantech Global and President of Prime Science & Technology. The company plans to target businesses in Asia, focusing on those with compelling economics, clear paths to positive operating cash flow, significant assets, and successful management teams.

Bowen Acquisition plans to list on the Nasdaq under the symbol BOWNU. EarlyBirdCapital acted as sole bookrunner on the deal.