Wealthbridge Acquisition, a blank check company targeting the air transportation industry in China, raised $50 million by offering 5.0 million units at $10, as expected.
Each unit consists of one ordinary share, one warrant to purchase one-half of one share (full warrants are exercisable at $11.50), and one right to receive one-tenth of a share upon the consummation of the company's initial business combination.
Wealthbridge Acquisition plans to list on the Nasdaq under the symbol HHHHU. Chardan Capital Markets acted as a lead manager on the deal.
