8i Enterprises Acquisition, a blank check company led by James Tan and targeting the Asian region, filed on Friday with the SEC to raise up to $50 million in an initial public offering.
The Singapore-based company plans to raise $50 million by offering 5 million units at a price of $10. At $10, 8i Enterprises Acquisition would command a market value of $65 million. Each unit consists of one share of common stock, one warrant, and one right to receive shares at the closing of an initial business combination. Two warrants are required to purchase a share of common stock at $11.50 per share, and 10 rights are needed to receive one ordinary share.
8i Enterprises Acquisition was founded in 2017 and plans to list on the Nasdaq under the symbol JFKKU. Chardan Capital Markets is the sole bookrunner on the deal.
