Chenghe Acquisition II, a blank check company targeting businesses in or with a focus on Asian markets, raised $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
Chenghe Acquisition II is led by CEO and Director Anna Zhou, who previously served as a Senior Associate at Mighty Divine Investment Management, and Chairman Shibin Wang, the co-founder and CEO of regulated digital asset exchange Hong Kong Digital Asset Ex. The SPAC plans to target growing companies in Asian markets or global companies with a presence or focus in Asia.
The sponsor's previous SPACs include Chenghe Acquisition I (LATG; +14% from $10 offer price), which has a pending merger agreement with golf shaft maker Femco Steel Technology (TWO: 6731) and for which Zhou also serves as CEO and CFO, and Chenghe Acquisition, which completed its combination with optical components provider Semilux International (SELX; -77%) this past February.
Chenghe Acquisition II plans to list on the NYSE American under the symbol CHEB.U. Cohen & Company Securities and Seaport Global acted as joint bookrunners on the deal.
