East Stone Acquisition today announced it filed a confidential F-4 with the SEC outlining its proposed merger with ICONIQ Holding Limited. Headquartered in Dubai, ICONIQ is smart electric vehicle company.
The deal has a post-combination valuation of $2.5 billion.
Financing details have been scant on this deal. East Stone raised $100 million in a February 2020 IPO, although the SPAC’s current market capitalization is about $73.26 million according to Nasdaq data. Read more.
