China Yunhong Holdings, a blank check company targeting consumer or lifestyle assets in Asia, filed on Friday with the SEC to raise up to $50 million in an initial public offering.
The Wuhan, China-based company plans to raise $50 million by offering 5 million units at a price of $10, where it would command a market value of $65 million. Each unit consists of one ordinary share and one redeemable warrant to purchase one ordinary share at a price of $11.50.
China Yunhong Holdings was founded in 2019 and it plans to list on the Nasdaq under the symbol ZGYHU. Maxim Group LLC is the sole bookrunner on the deal.
