Shanghai-based Pomelo Acquisition registered to offer 7.5 million units at $10 each. The new SPAC will target companies in Asia Pacific and North America.
Pomelo noted prominently that certain risks are associated with any acquisition the company might make in China due to the government’s significant ability to exert influence on companies based in China. All of the SPAC’s executives are based in or have significant connections to China.
A unit consists of one share and one-half of a warrant.
CEO and Chairman Kiyohiro Kawayanagi is a founding partner of Bit World Japan Investment Limited, a Japanese investment firm, focusing on the telecommunications, media & technology area.
The SPAC applied to list on the Nasdaq under PACLU. Read more.
