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Technology-focused SPAC Hudson Acquisition I files for a $60 million IPO

April 29, 2022

Hudson Acquisition I, a blank check company targeting technology in the US, filed on Friday with the SEC to raise up to $60 million in an initial public offering.

The company plans to raise $60 million by offering 6 million units at $10. Each unit consists of one share of common stock and one right to receive one-eighth of a share upon the completion of an initial business combination. At the proposed deal size, Hudson Acquisition I would command a market value of $80 million. 

The SPAC is led by Chairman and CEO Jiang Hui, the current CEO of electronic payment developer Wave Sync (OTC:WAYS), and CFO and Director Hon Man Yun, the current CFO of Wave Sync. Hudson Acquisition I seeks to leverage management's experience and target the technology industry in the US. Sectors of interest include financial technology, consumer technology, medical technology, and advanced mobility technology.

The New York, NY-based company was founded in 2021 and plans to list on the Nasdaq under the symbol HUDAU. Hudson Acquisition I filed confidentially on May 12, 2021. Chardan Capital Markets is the sole bookrunner on the deal.