YHN Acquisition I, a blank check company led by executives from boutique SPAC firm Norwich Capital, filed on Friday with the SEC to raise up to $60 million in an initial public offering.
The Hong Kong-based company plans to raise $60 million by offering 6 million units at $10. 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. At the proposed deal size, YHN Acquisition I would command a market value of $78 million.
YHN Acquisition I is led by CEO and Director Satoshi Tominaga and CFO and Director Yangyujia An, who serve as Managing Partner and Vice Chair of SPAC-focused financial services firm Norwich Capital, respectively. They are joined by Chair Zhengming Feng, who previously served as Managing Director of SB China Venture Capital. While it has not selected a target industry or geography, the SPAC plans to target businesses with strong management teams and potential for recurring revenue, among other characteristics.
YHN Acquisition I was founded in 2023 and plans to list on the Nasdaq under the symbol YHNAU. Lucid Capital Markets is the sole bookrunner on the deal.
