XFLH Capital, a blank check company led by Chinese executives, raised the proposed deal size for its upcoming IPO on Monday.
The Dover, DE-based company now plans to raise $100 million by offering 10 million units at a proposed 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 company had previously filed to offer 6 million shares at the same proposed price. At the midpoint of the revised deal size, XFLH Capital will raise 67% more in proceeds than previously anticipated and command a market cap of $138 million.
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.
XFLH Capital was founded in 2025 and plans to list on the Nasdaq under the symbol XFLHU. Maxim Group LLC is the sole bookrunner on the deal.
