Golden Path Acquisition registered with the SEC to offer 5 million units at $10 each. A units consists of of one ordinary share, one right to receive one-tenth of an ordinary share upon the closing of a business combination, and one redeemable warrant. Two warrants are exercisable at $11.50 to purchase one ordinary share, the SPAC said.
The new SPAC is focused on companies in Asia with an enterprise value of $150 million to $300 million.
Golden Path is led by CEO and Chairman Shaosen Cheng, who is a senior advisor at Forest Hill Financial Group of New York.
Sponsor Greenland Asset Management Corporation has agreed to purchase an aggregate of 248,000 units (or 270,500 units if the over-allotment option is exercised) at the IPO price for a total of up to $2.705 million in a private placement that will close simultaneously with the offering.
The SPAC has applied for a Nasdaq listing under GPCOU. Read more.
