Crestone Strategic Capital Acquisition, a blank check company targeting businesses with defensible market positions, filed on Tuesday with the SEC to raise up to $75 million in an initial public offering.
The company plans to raise $75 million by offering 7.5 million shares at $10. The offering does not contain warrants or rights.
Crestone Strategic Capital Acquisition is led by CEO and Chairman Hongtao Sun, the CTO of KX Power. She is joined by CFO and Director Wenxi He, the Chief Investment Officer at KX Power. She is also CEO and Chairwoman of Metal Sky Star Acquisition (OTC: MSSAF; +15% from $10 offer price), which went public in 2022 and is targeting middle-market growth businesses, and director and former CEO of DT Cloud Acquisition (formerly Nasdaq: DYCQ; +12%) which went public in 2024 and is in a pending business combination with Chinese biotech Maius Pharmaceutical Group. The SPAC is targeting businesses with defensible and established business models, multiple avenues for long-term growth, a sustainable financial profile, and market trend alignment.
The New York, NY-based company was founded in 2026. It plans to list on the Nasdaq under the symbol CSCM. Polaris Advisory Partners is the sole bookrunner on the deal.
