A Paradise Acquisition, a blank check company targeting leisure and entertainment, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and rights to receive one-eighth of a share.
A Paradise Acquisition is led by CEO, CFO, and Chairman Claudius Tsang. Tsang was previously CEO and Chairman of Model Performance Acquisition from 2021 until its 2023 combination with Chinese video and anime brand MultiMetaVerse (formerly Nasdaq: MMV). He also held various roles at Templeton from 2008 to 2020. A Paradise Acquisition plans to target the leisure and entertainment sector.
The Hong Kong, China-based company was founded in 2022 and plans to list on the Nasdaq under the symbol APADU. A Paradise Acquisition filed confidentially on January 17, 2023. Cohen & Company Securities is the sole bookrunner on the deal.
