Bowen Acquisition closed the sale of an additional 900,000 units at $10 each for proceeds of $9 million through the underwriters’ over-allotment option. Total proceeds raised in the initial public offering was $69 million.
The SPAC’s units list on the Nasdaq Global under the ticker symbol BOWNU. Each consists of one share and a right to receive one-tenth of a share upon the completion of an initial business combination. Once the securities begin separate trading, shares and rights are expected to be listed under the symbols BOWN and BOWNR.
The SPAC in its initial SEC registration said that it is broadly focused on targets in Asia, but will not do a deal with any company with China operations consolidated through a VIE structure. Read more.
