Bayview Acquisition, a blank check company targeting businesses in Asia, raised $60 million by offering 6 million units at $10. The company offered 1 million more units than anticipated. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
The company is led by CEO and Director Xin Wang, who currently serves as Managing Partner of Bohai Harvest RST Equity Investment Management, and Chair Yuk Man Lau, a Partner at Guoxing Capital. The company plans to target businesses in Asia with strong management teams and growth potential, among other characteristics.
Bayview Acquisition plans to list on the Nasdaq under the symbol BAYAU. Chardan Capital Markets acted as sole bookrunner on the deal.
