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SPAC Inkstone Feibo Acquisition files for a $60 million IPO, targeting biotech and green tech

May 27, 2022
IFACU.RC

Inkstone Feibo Acquisition, a blank check company focusing on biotech and green tech in the US and Taiwan, 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-half of a warrant, exercisable at $11.50. At the proposed deal size, Inkstone Feibo Acquisition would command a market value of $79 million.

Inkstone Feibo Acquisition is led by CEO and Chairman I-Fa Chang, the founder and CEO of Inkstone Capital, and CFO and Director Tony Tian, a managing director and head of capital markets at US Tiger Securities. The company plans to focus on opportunities in biotechnology and green technology industries in the US and Taiwan, with an emphasis on ESG practices.

The Wilmington, DE-based company was founded in 2022 and plans to list on the Nasdaq, although it has not chosen a symbol (RC ticker: IFACU.RC). Tiger Brokers is the sole bookrunner on the deal.