YHN Acquisition I today registered to offer 6 million units at $10 each. A unit consists of one share and a right to receive one-tenth of a share.
Underwriter Lucid Capital Markets, the sole book-runner on the deal, has a 45-day option to purchase up to an additional 900,000 units to cover over-allotments, if any.
YHN said it will draw on management’s experience to form a business combination “that has a competitive advantage in the core business and is positioned to bring in high returns and long-term sustainable growth.” The SPAC’s sponsor is predominantly controlled by a Hong Kong national. YHN said it may pursue an initial business combination with a company located or doing business in China (including Hong Kong and Macau),
CEO and Director Satoshi Tominaga has been a managing partner at Norwich Capital Limited since October 2020. Prior to this, he was a managing partner at DeTiger Equity Fund in Asia from May 2016 to June 2020. As a managing partner of DeTiger Equity Fund, he has investment experience in blockchain technology projects, including DeFi, exchanges, payments, lending, crypto trading, healthcare, data science, supply chain, internet of things (IoT), artificial intelligence (AI), machine learning, big data analysis, and other fintech related projects.
The new SPAC has applied to list on the Nasdaq under the symbol YHNAU. Read more.
