Quantumsphere Acquisition, a blank check company targeting businesses with growth potential and defensible market positions, raised $72 million by offering 7.2 million units at $10. The company offered 1.2 million more units than anticipated. Each unit consists of one share of common stock and one right to receive one-seventh of a share upon the completion of an initial business combination.
Quantumsphere Acquisition is led by CEO, CFO, and Chairman Ping Zhang, who currently serves as General Manager of US-based investment and air freight company Green Leaf Air Freight. The SPAC plans to target businesses with compelling long-term growth potential and highly defensible market positions, focusing on those with enterprise values between $180 million and $1 billion.
Quantumsphere Acquisition plans to list on the Nasdaq under the symbol QUMSU. SPAC Advisory Partners acted as sole bookrunner on the deal.
