Wintergreen Acquisition, a blank check company targeting the TMT industry in Asia, raised $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one right to receive one-eighth of a share upon the completion of an initial business combination.
Wintergreen Acquisition is led by CEO and Chairman Fayer Yao, the founder and CEO of metaverse virtual education firm Shenzhen Yihaiyun Technology. The SPAC plans to target the technology, media, and telecommunications (TMT) industries with operations or prospective operations in the Asia Pacific, including the Greater China region. It plans to focus on companies with advanced and highly differentiated solutions for the TMT industry such as intelligent chips, 5G, integrated circuitry, and other emerging technologies.
Wintergreen Acquisition plans to list on the Nasdaq under the symbol WTGUU. D. Boral Capital acted as sole bookrunner on the deal.
