Qomolangma Acquisition priced its initial public offering of 5 million units at $10 each.
The units begin trading today on the Nasdaq under the ticker symbol QOMOU. Each consists of one share of common stock, one right to receive one-tenth of a share, and a warrant exercisable at $11.50 for a share.
Once the units begin separate trading, shares, rights and warrants are expected to list under the symbols QOMO, QOMOR and QOMOW, respectively.
The new SPAC is focused on businesses in the Asian market with an enterprise value between $300 million and $500 million, and will not conduct an initial business combination with any target company that conducts operations through variable interest entities, or VIEs, or that has an auditor that the Public Company Accounting Oversight Board, or PCAOB, is unable to inspect for two consecutive years beginning in 2021.
Chairman, President and CEO Jonathan P. Myers is a partner with at Ventac Partners, which focuses on ventures in life sciences.
Qomolangma‘s sponsor and certain members of the board and management have significant business ties to or are based in China. Read more.
