8i Enterprises Acquisition, a blank check company backed by 8i Capital and targeting a high-growth business in Asia, raised $50 million by offering 5 million shares at $10, commanding a market value of $65 million.
Each unit consists of one share of common stock, one warrant, and one right to receive shares at the closing of an initial business combination. Two warrants are required to purchase a share of common stock at $11.50 per share, and 10 rights are needed to receive one ordinary share.
Each 8i Enterprises Acquisition plans to list on the Nasdaq under the symbol JFKKU. Chardan Capital Markets acted as a lead manager on the deal.
