Golden Star Acquisition, a blank check company targeting strategically significant businesses in the Asian markets, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion an initial business consummation, and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Golden Star Acquisition would command a market value of $128 million.
Golden Star Acquisition is led by Chairman and CEO Linjun Guo, an international lawyer who currently serves as the Director of Legal Affairs at ENN Stock Corporation and Xinzhiwolai Network Technology, and CFO Kenneth Lam, the former China CFO of AXA Assistance and Airbus.
The company plans to leverage management's experience and target middle-market growth companies in Asian markets with enterprise values between $300 and $400 million. Potential target sectors include internet and high technology, fintech, clean energy, healthcare, consumer and retail, energy and resources, food processing, manufacturing, and education.
The New York, NY-based company was founded in 2021 and plans to list on the Nasdaq but has not selected a ticker yet (RC ticker:GSA.RC). Ladenburg Thalmann is the sole bookrunner on the deal.
