CCM Acquisition registered with the SEC to offer 15 million units priced at $10 each. A unit consists of one Class A ordinary share and one-third of one redeemable warrant, with whole warrants exercisable at $11.50 for a share.
I-Bankers Securities is sole book-running manager for the offering. The underwriter has a 30-day option to purchase up to an additional 2.25 million units to cover any over-allotments.
The new SPAC plans to target the consumer technology, communications, retail, interpersonal communication, transportation, healthcare, carbon neutral industries, education, software, SaaS, fintech, financial services or media sectors. The focus is on companies with an enterprise value of between $500 million and $1 billion based in Asia Pacific and Europe.
CCM is led by Chairman and Director Ming-Po Cai, the chairman and CEO of Cathay Capital Group, which he founded in 2006.
The SPAc intends to apply for a Nasdaq listing under CCMCU. Read more.
