Newborn Acquisition, a blank check company led by Chinese fund managers targeting businesses in the US and Asia (ex-China), raised $50 million by offering 5 million shares at $10. Each unit consists of one ordinary share, one warrant to purchase one-half of one ordinary share and one right to receive one-tenth of one ordinary share. Newborn Acquisition plans to list on the Nasdaq under the symbol NBACU. Chardan Capital Markets acted as lead manager on the deal.
