Asia-focused SPAC Pacifico Acquisition files for a $50 million IPO

Pacifico Acquisition, a blank check company targeting the new energy, biotech, and education sectors in Asia, filed on Tuesday with the SEC to raise up to $50 million.

The New York, NY-based company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination. At the proposed deal size, Pacifico Acquisition would command a market value of $65 million.

The company is led by CEO and Chairman Edward Wang, who currently serves as the Managing Partner of The Balloch Group, and previously was a Partner at Prestige Financial Holdings Group and Shenzhen Bode Chuangfu Investment Management. The company plans to target the new energy, biotech, and education sectors in Asia, focusing on businesses with enterprise values between $150 million and $300 million.

Pacifico Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol PAFOU. The company filed confidentially on June 3, 2021. Chardan Capital Markets is the sole bookrunner on the deal.