CM Seven Star Acquisition, a Chinese blank check company managed by an affiliate of China Minsheng Investment Group, announced terms for its IPO on Monday.
The Hong Kong-based company plans to raise $150 million by offering 15 million units at a price of $10. Each unit consists of one ordinary share and one-half of a redeemable warrant. At $10 per unit, CM Seven Star Acquisition would command a market value of $192 million.
CM Seven Star Acquisition was founded in 2017 and plans to list on the Nasdaq under the symbol CMSSU. EarlyBirdCapital is the sole bookrunner on the deal.
