HHG Capital, a blank check company targeting established businesses with strong free cash flow, raised $50 million by offering 5 million units at $10. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one warrant to purchase three-fourths of a share, exercisable at $11.50.
The company is led by CEO and Director Keith Kok, the CEO of EPL Exhibition and former CFO of EN Projects, and CFO Lora Chan, who currently serves as a representative of China Tontine Wines Group and previously held various roles at Evershine Group Holdings. While the company has not selected a target industry, it plans to leverage management's experience and focus on established businesses with stable free cash flow generation and strong management teams, among other characteristics. It will not pursue opportunities in China.
HHG Capital plans to list on the Nasdaq under the symbol HHGCU. EF Hutton and Brookline Capital Markets acted as joint bookrunners on the deal.
IPO Pro - "The Ultimate Resource for IPOs"
Don't risk buying another IPO without IPO Pro.
Get your FREE TRIAL now.
