(Reuters) - A blank-check company backed by China's buyout firm Hony Capital on Thursday withdrew plans for a U.S. initial public offering, becoming the
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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(Reuters) - A blank-check firm backed by Hony Capital, which has investments in TikTok owner ByteDance and WeWork s China unit, is looking to raise $300 million in an U.S. initial public offering, the Information reported, citing a person familiar with the matter.
Hony Capital Acquisition Corp, the special purpose acquisition company (SPAC), is planning to apply to list on Nasdaq, the Information said on Wednesday, citing a confidential listing application document.
Hony Capital, one of China s biggest private-equity firms, did not immediately respond to a Reuters request for comment.
The SPAC will look to merge with companies that have a significant presence in China, mainly in sectors such as healthcare and consumer products, according to the report.