Jeneration Acquisition, a blank check company formed by Jeneration Group targeting technology in Asia, filed on Monday with the SEC to raise up to $300 million in an initial public offering.
The Hong Kong-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Jeneration Acquisition would command a market value of $375 million.
The company is led by CEO and Director Jason Tan, a Partner and the CIO of Jeneration Capital, and Chairman Jimmy Chang, the Founder of Jeneration Group and a Partner of Jeneration Capital. The company plans to target technology and technology-enabled models in Asia, particularly in Greater China, including in mobility, online services, software, e-commerce, AI, robotics, and clean energy.
Jeneration Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol JACAU. The company filed confidentially on February 24, 2021. Morgan Stanley and Deutsche Bank are the joint bookrunners on the deal.
