Maxpro Capital Acquisition, formerly Jade Capital Acquisition, in an amended S-1 filing cut its planned IPO to 9 million units, down from the 10 million initially registered in July.
A unit now consists of one share and one redeemable warrant, exercisable for a share at $11.50. The SPAC in the initial filing planned to include half warrants with each unit.
The SPAC is focused on healthcare technology companies, specifically within the biotechnology and pharmaceutical sectors.
Maxpro 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 1.35 million units.
The SPAC has applied to list on the Nasdaq under JMACU. Read more.
