Sino Mercury Acquisition, a blank check company formed to acquire a non-traditional finance business in China, filed and set terms for an initial public offering on Friday. The recently formed New York, NY-based SPAC plans to raise $40 million by offering 4.0 million shares at $10 per unit. At that price, the company would command a market value of $52 million.
The company is led by Jianming Hao, a Partner of Beijing CAC Capital and the CEO of Huafu Tiancheng Investment Management Company. The CFO, Richard Xu, is President of CIFCO International.
The New York, NY-based company, which was formed in March, plans to list on the NASDAQ under the symbol SMACU. Sino Mercury Acquisition initially filed confidentially on May 16, 2014. Cantor Fitzgerald is the sole bookrunner on the deal. No pricing terms were disclosed.
