Vernal Capital Acquisition, a blank check company targeting businesses in the APAC region, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, and one right to receive one-fourth of one share at the time of the business combination.
Vernal Capital Acquisition is led by CEO and Chairman Jun Du, the founder and CEO of Vernal and ABCDE Capital, and the co-founder of Chainup Technic. He is joined by CFO and Director Binghan Yi, who previously served as head of existing portfolio management at Munich Re. The SPAC plans to focus on companies located in China, including Hong Kong and Macau.
The New York, NY-based company will trade on the NYSE under the symbol VECAU. D. Boral Capital acted as sole bookrunner on the deal.
