Gansu Yunzhao Ruyi Technology Development, a blank check company targeting tech and energy in China and the APAC region, filed on Friday with the SEC to raise up to $60 million in an initial public offering.
The Lanzhou, China-based company plans to raise $60 million by offering 6 million shares at $10. The offering does not contain warrants or rights. At the proposed price, Gansu Yunzhao Ruyi Technology Development would command a market value of $100 million.
The SPAC is led by CEO and Chairman Xiaofei Zhang, who has served successively as Chairman of Gansu Yunding Zhonghe E-Commerce and the Zhangye Branch of Hainan Shengqianshuo Grou. It plans to target big consumption, big data, regional blockchain technology, new energy, and other fields in the China and APAC region.
Gansu Yunzhao Ruyi Technology Development was founded in 2023 and plans to list on the Nasdaq under the symbol YZRY. on the deal.
