RichSpace Acquisition Files for $40M IPO to Target Fintechs


RichSpace Acquisition registered to offer 4 million units at $10 each. A unit consists of one Class A ordinary share and one-half of one redeemable warrant. Whole warrants will be exercisable at $11.50 for a share.

The new SPAC plans to target fintech companies engaged in blockchain infrastructure, software services, and non-fungible tokens.

RichSpace is led by CEO Bo Wu, who is also founder and CEO of Happy Link, an e-commerce service. He co-founded, a platform initiated by WuXi AppTec and academia/institutions dedicated to the development and application of DNA encoded library technology during drug discovery. From 2013 to 2019, he co-founded and served as the chief executive officer at MEIAOJU Real Estate Corporation.

Prime Number Capital is lead book-running manager. The underwriters have a 45-day option to purchase up to an additional 600,000 units to cover over-allotments, if any.

The SPAC has applied to list on the Nasdaq under RICHU. Read more.

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