Cedarlake Acquisition, a blank check company formed by Cedarlake Capital targeting the consumer, technology, and mobility sectors in China, filed on Monday with the SEC to raise up to $200 million.
The Hong Kong-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Cedarlake Acquisition would command a market value of $250 million.
The company is led by CEO and Chairman Yi Bao, the founder and Chairman of Cedarlake Capital Group, an international investment platform with a focus on technology-themed business opportunities and cross-border connectivity. The company plans to target China's consumer, technology, and mobility sectors.
Cedarlake Acquisition was founded in 2021 and plans to list on the NYSE under the symbol CEDA.U. BofA Securities and Morgan Stanley are the joint bookrunners on the deal.
