Aquaron Acquisition priced its initial public offering of 5 million units at $10 each. Units list on the Nasdaq and began trading today under the ticker symbol AQUNU. Each consists of one share of common stock and one right to receive one-fifth of a share upon completion of a merger.
Once the securities begin separate trading, common stock and rights will list under the symbols AQU and AQUNR.
Aquaron is broadly focused on companies in the new energy sector. The SPAC has said it will exclude as an initial business combination target any company of which financial statements are audited by an accounting firm that the United States Public Company Accounting Oversight Board is unable to inspect for two consecutive years beginning in 2021 and any target with China operations consolidated through a VIE structure.
Chairman, Presisdent and CEO Jie Weng is the director of private equity and real assets investing at PICC Capital Equity Investment Company Ltd., where he leads investments in private equity and real assets.
Chardan is acting as the sole book-running manager of the offering. Read more.
