Expectation Acquisition, a blank check company targeting businesses with a connection to the Asian market, filed on Tuesday with the SEC to raise up to $60 million in an initial public offering.
The New York, NY-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, Expectation Acquisition would command a market value of $77 million.
Expectation Acquisition is led by CEO and Chair Wanjiao Pu, who currently serves as in-house counsel at Beijing Medlinker Tech, and CFO and Director Chi Zhuang, who previously served as advisor to Golden Path Acquisition through its 2022 merger with MicroCloud Hologram (HOLO; -99% from $10 offer price). The SPAC has not selected a target industry but plans to focus on middle market growth businesses with a connection to the Asian market.
Expectation Acquisition was founded in 2018 and plans to list on the Nasdaq under the symbol ESPAU. Lucid Capital Markets is the sole bookrunner on the deal.
