GreenVision Acquisition, a blank check company targeting the healthcare industry in Asia or North America, filed on Monday with the SEC to raise up to $50 million in an initial public offering.
The Shanghai, China-based company plans to raise $50 million by offering 5 million units at a price of $10. At $10, GreenVision Acquisition would command a market value of $63 million. Each unit consists of one share of common stock, one warrant, and one right to receive one-tenth of a share of common stock.
The sponsor GreenVision Capital Holdings (19% post-IPO stake) is an affiliate of the SPAC's officers and directors. CEO/Chairman David Fu is an Of Counsel to Global Law Office, Shanghai, and specializes in M&A, private equity, and foreign direct investment.
The Shanghai, China-based company was founded in 2019 and plans to list on the Nasdaq. I-Bankers Securities is the sole bookrunner on the deal.
