GalaxyEdge Acquisition, a blank check company targeting long-term growth, raised the proposed deal size for its upcoming IPO on Friday.
The New York, NY-based company now plans to raise $100 million by offering 10 million units at a price of $10. The company had previously filed to offer 6 million units at the same price. Each unit consists of one share of common stock and one-seventh of one right to a share of common stock upon the completion of an initial business combination.
GalaxyEdge Acquisition is led by CEO and CFO Ping Zhang, the General Manager of Green Leaf Air Freight. The SPAC plans to target companies within large underpenetrated markets with favorable industry dynamics, with strong management teams, and a defensible market position with sustainable competitive advantage.
GalaxyEdge Acquisition was founded in 2025 and plans to list on the Nasdaq under the symbol GLEDU. Kingswood Capital Markets is the sole bookrunner on the deal.
