RichSpace Acquisition, a blank check company targeting fintech and blockchain, filed on Tuesday with the SEC to raise up to $40 million in an initial public offering.
The Burlingame, CA-based company plans to raise $40 million by offering 4 million units at $10 per unit. Each unit contains one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, RichSpace Acquisition would command a market value of $43 million.
The company is led by CEO and Director Bo Wu, founder and CEO of e-commerce service Happy Link, and CFO and Director Jianyong Zhang, former Partner at Lincoln International. The company aims to leverage management's experience to target technology-enabled fintech sectors, including blockchain infrastructure, software services, and non-fungible tokens.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol RICHU. RichSpace Acquisition filed confidentially on May 5, 2021. Prime Number Capital is the sole bookrunner on the deal.
