Ribbon Acquisition, a Tokyo-based blank check company led by Angshuman Ghosh, filed on Wednesday with the SEC to raise up to $50 million in an initial public offering.
The Tokyo, Japan-based company plans to raise $50 million by offering 5 million units at $10. Each unit contains one share of common stock and one right to receive one-ninth of a share of common stock upon the completion of an initial business combination.
Ribbon Acquisition is led by CEO and Chairman Angshuman (Bubai) Ghosh, who brings experience in financial services and international business coordination, and CFO Anna Zhou, who previously was an executive for several SPACs, including Chenghe Acquisition II CHEB.U, which completed its NYSE listing in June 2024, and Chenghe Acquisition, which completed its combination with optical components provider Semilux International (SELX) this past February.
The sponsor is Ribbon Investment Company, where Ghosh is Director.
The company was founded in 2024 and plans to list on the Nasdaq under the symbol RIBBU. A.G.P. is the sole bookrunner on the deal.
