SPAC Bowen Acquisition files for a $60 million IPO, targeting businesses in Asia

Bowen Acquisition, a blank check company targeting businesses in Asia, filed on Friday with the SEC to raise up to $60 million in an initial public offering.

The New York, NY-based 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-tenth of a share upon the completion of an initial business combination. At the proposed deal size, Bowen Acquisition would command a market value of $81 million.

The company is led by Chairwoman Na Gai, who currently serves as EVP of Shenzhen Guoxing Capital, and CEO Jiangang Luo, whose current roles include Manager of Cleantech Global and President of Prime Science & Technology. The company plans to target businesses in Asia, focusing on those with compelling economics, clear paths to positive operating cash flow, significant assets, and successful management teams.

Bowen Acquisition was founded in 2023 and plans to list on the Nasdaq under the symbol BOWNU. It filed confidentially on April 17, 2023. EarlyBirdCapital is the sole bookrunner on the deal.