Golden Path Acquisition priced its IPO of 5 million units at $10 per unit.
Units are expected to begin trading today on the Nasdaq under GPCOU. Each consists of one ordinary share, one right to receive one tenth of an ordinary share and one redeemable warrant to acquire one-half an ordinary share at an exercise price of $11.50 for a share. Once the securities comprising the units begin separate trading, the shares, rights, and warrants are expected to list under GPCO, GPCOR and GPCOW, respectively.
The offering is expected to close June 24.Â
Ladenburg Thalmann & Co. was book-running manager and Brookline Capital Markets, a division of Arcadia Securities, was co-manager for the offering.
The SPAC’s sponsor, Greenland Asset Management, has agreed to purchase 248,000 units at the IPO price.
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. Read more.
