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China-focused SPAC Artisan Acquisition files for a $300 million IPO

March 24, 2021
ARTAU

Artisan Acquisition, a blank check company targeting the healthcare, consumer, and tech sectors in Greater China, filed on Wednesday with the SEC to raise up to $300 million in an initial public offering.

The Cayman Islands-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-third of a warrant, exercisable at $11.50. At the proposed deal size, Artisan Acquisition would command a market value of $390 million.

The company's sole executive is CEO and Director Ben Cheng, the Managing Partner of C Ventures and a General Manager at New World Development (HKEx: 0017). It plans to target the high-growth healthcare, consumer, and technology sectors, focusing on businesses that it believes can be well-positioned for success in Greater China.

Artisan Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol ARTAU. Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal.