Blue Safari Group Acquisition, a Chinese blank check company targeting fintech and related business services companies, raised $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
The company is led by Chairman Alan Yamashita and his son, CEO and CIO Alex Yamashita, along with CFO Naphat Sirimongkolkasem. Alan Yamashita serves as a Managing Partner at Polar Ventures, and previously was an executive advisor to Mizuho Alternative Investments, and CEO of Search Investment Group. Alex Yamashita previously co-founded blockchain investment firms PPL and TLDR in 2020 and 2016, respectively.
The company plans to target businesses in the fintech, infotech, insurtech, and business services sectors, focusing on those with enterprise values between $200 million and $600 million.
Blue Safari Group Acquisition plans to list on the Nasdaq under the symbol BSGAU. Maxim Group LLC acted as sole bookrunner on the deal.
