YHN Acquisition I, a blank check company based in Hong Kong and led by executives from boutique SPAC firm Norwich Capital, raised $60 million by offering 6.0 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.
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 a 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, a strong portfolio of investors, and potential for recurring revenue, among other characteristics.
YHN Acquisition I plans to list on the Nasdaq under the symbol YHNAU. Lucid Capital Markets acted as sole bookrunner on the deal.
