Greenland Acquisition Corporation, a blank check company formed to acquire a Chinese technology-enabled service business, filed for its IPO on Friday.
The Beijing, China-based company plans to raise $40 million by offering 4 million shares at a price of $10. At that price, Greenland Acquisition Corporation would command a market value of $53 million. Each unit consists of one ordinary share, one right to receive one-tenth of one share and one warrant to purchase one half of one share exercisable at $11.50.
Greenland Acquisition Corporation was formed in 2017 and plans to list on the Nasdaq under the symbol GLACU. Chardan Capital Markets is the sole bookrunner on the deal. Timing on pricing was not disclosed.
