XFLH Capital, a blank check company led by Chinese executives, filed on Monday with the SEC to raise up to $60 million in an initial public offering.
The company plans to raise $60 million by offering 6 million units at a price of $10. Each unit consists of one share of common stock, and one right to receive one-seventh of a share upon completion of a business combination.
The SPAC is led by CEO and Director Yanzhe Yang, who founded and serves as the CEO of Aroui Health Management. He is joined by CFO Tianshi Yang, who previously served as the CSO of SunCar Technology Group (Nasdaq: SDA), and as the CFO of TD Holdings (formerly Nasdaq: GLG). The SPAC plans to target growth businesses with enterprise values between $200 million and $400 million that have strong management teams, a track record of revenue and earnings growth, and the ability to generate stable and increasing free cash flow.
The Dover, DE-based company was founded in 2025 plans to list on the Nasdaq under the symbol XFLHU. Maxim Group LLC is the sole bookrunner on the deal.
