China-focused SPAC Angel Pond raises $250m in downsized US IPO

China-focused SPAC Angel Pond raises $250m in downsized US IPO
Shanghai, China. Source:
Ralf Leineweber/Unsplash
May 19, 2021
Angel Pond Holdings, a special purpose acquisition company (SPAC) that focuses on tech-enabled sectors in Greater China, announced raising $250 million in its initial public offering (IPO) in the US.
The SPAC offered 25 million units at $10 each, with every unit consisting of one Class A ordinary share and one-third of one redeemable warrant, according to its filing with the US Securities and Exchange Commission. It listed on the New York Stock Exchange and started trading under the ticker symbol POND.U on Tuesday.
The final offering was 5 million units fewer than what the company had initially filed to offer when it submitted its IPO prospectus in March.

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