Chenghe Acquisition priced its initial public offering of 10 million units at $10 each. The units begin trading on the Nasdaq today under the ticker symbol CHEAU. Each consists of one Class A ordinary share and one-half of a warrant. Whole warrants are exercisable at $11.50 per share.
Once the securities begin separate trading, shares and warrants will be listed under the symbols CHEA and CHEAW.
The SPAC intends to focus on financial technology or technology-enabled financial service companies, including artificial intelligence, big data, cloud and blockchain-related initiatives in Asian markets. Chenghe in the news release said it will not undertake an initial business combination with any entity based in or with its principal business operations in Mainland China, Hong Kong or Macau.
Morgan Stanley and EarlyBirdCapital are joint book-running managers for the offering, and Revere Securities is co-manager. Read more.
