Angel Pond Holdings, a blank check company focusing on technology-enabled sectors in Greater China, raised $250 million by offering 25 million units at $10. The company offered 5 million fewer units than anticipated. Each unit contains one share of common stock and one-third of a warrant, exercisable at 11.50.
The company was founded by CEO and Chairman Theodore Wang, the founder of Puissance Capital Management and Angel Pond Capital and a former Partner at Goldman Sachs, and Simon Xie, the founder and Executive Director of Hangzhou Hupan Shannan Capital Management and a co-founder of Alibaba Group. Angel Pond Holdings plans to target businesses in the Greater China region, especially technology-enabled sectors, including e-commerce, enterprise software and cloud computing, and fintech.
Angel Pond Holdings plans to list on the NYSE under the symbol POND.U. Goldman Sachs (Asia) and J.P. Morgan acted as lead managers on the deal.
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