Newbridge Acquisition, a Hong Kong-based blank check company targeting small-cap businesses, raised $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one right to receive one-eighth of one share upon the consummation of an initial business combination.
The Hong Kong-based company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one right to receive one-eighth of a share upon the completion of an initial business combination.
Newbridge Acquisition is led by CEO and Chairman Yongsheng Liu, the former COO of Goldenstone Acquisition and former Chairman and CEO of Wealthbridge Acquisition (merged with Scienjoy Holding (SJ)); before that SPAC experience he was formerly the CEO of Royal China Holdings.
The SPAC plans to target small-cap companies in North America, Europe, and/or the Asia Pacific regions, focusing on areas such as green and sustainable business, new energy, cutting-edge technologies, AI applications, business software, and healthcare products.
Newbridge Acquisition plans to list on the Nasdaq under the symbol NBRGU. Kingswood Capital Markets acted as sole bookrunner on the deal.
