ESG SPAC Keen Vision Acquisition files for a $130 million IPO, the first new blank check to file in 2023

Keen Vision Acquisition, a blank check company formed by Keen Vision Capital focused on ESG, filed on Thursday with the SEC to raise up to $130 million in an initial public offering.

The Summit, NJ-based company plans to raise $130 million by offering 13 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. At the proposed deal size, Keen Vision Acquisition would command a market value of $169 million.

The SPAC is led by CEO and Chairman Kenneth Wong, the founder and CEO of Keen Vision Capital (BVI), a single-family office specializing in PE investments with minority stakes, and Keen Vision International, a PE investment firm targeting controlling or majority stakes. Keen Vision Acquisition plans to target opportunities in the biotechnology, consumer goods, or agriculture sectors, with a focus on sustainability and ESG imperatives.

Keen Vision Acquisition is the first blank check IPO to submit an initial filing in 2023, compared to 20 by this time last year.

Keen Vision Acquisition was founded in 2021 and plans to list on the Nasdaq but has not selected a symbol yet (RC ticker: KVISU.RC). EF Hutton and Brookline Capital Markets are the joint bookrunners on the deal.