Gobi Acquisition, a blank check company formed by PAG Group targeting businesses with strong APAC connections, raised $250 million by offering 25 million shares at $10. The company did not offer units with warrants attached. Sponsor PAG had indicated on $200 million worth of shares in the offering.
The company is led by CEO, CFO, and Director Jack Li, who is a Managing Director and a founding member of PAG's private equity strategy. The company plans to target businesses with strong growth potential and a strong connection to Asia Pacific.
Gobi Acquisition plans to list on the Nasdaq under the symbol GOBI. Citi, Goldman Sachs (Asia), and UBS Investment Bank acted as joint bookrunners on the deal.
