SPAC Mericsson Acquisition files for a $40 million IPO, targeting media and entertainment in Asia

Mericsson Acquisition, a blank check company targeting media, advertising, and entertainment in Asia, filed on Thursday with the SEC to raise up to $40 million in an initial public offering.

The Hong Kong, China based company plans to raise $40 million by offering 4 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of one share upon the completion of a business combination. At the proposed deal size, Mericsson Acquisition would command a market value of $53 million. 

The company is led by CEO and Chairman Andy Kwok, who currently serves as CEO of Guangzhou Niudi Meida and previously was CEO of Andy Entertainment Productions from 1987 to 2014. The company plans to target media, advertising, and entertainment businesses in Asia with enterprise values between $150 million and $500 million.

Mericsson Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol MLXAU. Maxim Group LLC is the sole bookrunner on the deal.