Columbus Acquisition, a blank check company led by Chinese executives, raised the proposed deal size for its upcoming IPO on Thursday.
The Singapore-based company now plans to raise $60 million by offering 6 million units at $10. The company had previously filed to offer 5.8 million units at the same price. At the proposed deal size, Columbus Acquisition will raise 4% more in proceeds than previously anticipated and command a fully diluted market value of $79 million.
The company is led by CEO and Chairman Eric Zhang, a Founding Partner of Hercules Capital Group, where he is in charge of large scale alternative financing solutions for major commercial endeavors. While it has not selected a target industry, the SPAC plans to focus on emerging growth companies that are or have the potential to become leaders in their verticals, among other characteristics.
Columbus Acquisition was founded in 2024 and plans to list on the Nasdaq under the symbol COLAU. A.G.P. is the sole bookrunner on the deal.
