Retail-focused SPAC CHW Acquisition files for a $100 million IPO

CHW Acquisition, a blank check company targeting consumer products and retail, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.

The Purchase, NY-based company plans to raise $100 million by offering 10 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. Glazer Capital Management has indicated interest in purchasing 9.9% of the units in the offering. At the proposed deal size, CHW Acquisition will command a market value of $126 million.

The company is led by Co-CEO and Director Jonah Raskas, who serves as a Brand Manager at GlaxoSmithKline, and Co-CEO and Director Mark Grundman, who is the founder of small business investing firm MJG Partners. CHW Acquisition intends to focus its search on the consumer sector and consumer-related businesses, which complements the expertise of its officers, directors, and advisors.

CHW Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol CHWAU. It filed confidentially on February 9, 2021. Chardan Capital Markets is the sole bookrunner on the deal.