Jade Mountain Acquisition registered to offer 10 million units at $10 each. A unit consists of one share of stock and one-half of one redeemable warrant; whole warrants exercisable for $11.50 per share.
The new SPAC is focused on healthcare technology companies, specifically within the biotechnology and pharmaceutical sectors.
Jade Mountain is led by Chairman, CEO and Director Moses Chen, who has been managing director of Maxpro Ventures since May 2018, an investment firm focused on breakthrough biomedical technology companies. From October 2014 to January 2017, he was vice president and acting COO for SyneuRx International in Taiwan.
EF Hutton is sole book-running manager. The underwriters have an over-allotment option to purchase up to an additional 1.5 million units.
The SPAC intends to apply for a Nasdaq listing under JMACU. Read more.