Chenghe Acquisition III, a blank check company targeting businesses in or with a presence in Asia, filed on Thursday, 7/3 with the SEC to raise up to $110 million in an initial public offering.
The company plans to raise $110 million by offering 11 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
Chenghe Acquisition III is led by CEO and Chairman Shibin Wang, the co-founder and CEO of regulated digital asset exchange Hong Kong Digital Asset Ex. The SPAC plans to target growing companies in Asian markets or global companies with a presence or focus in Asia.
The sponsor's previous SPACs include Chenghe Acquisition II (CHEB; -5% from $10 offer price), which has a pending merger agreement with Indonesian B2B retail platform developer Polibeli Group; Chenghe Acquisition I, which merged with Taiwan-based golf shaft maker FST (KBSX; -83%) this past January; and Chenghe Acquisition, which mmerged with optical components provider Semilux International (SELX; -88%) in February 2024.
The Singapore-based company was founded in 2024 and plans to list on the Nasdaq under the symbol CHEC.U. Chenghe Acquisition III filed confidentially on January 31, 2025. BTIG is the sole bookrunner on the deal.
