Valuence Merger I, a blank check company targeting life sciences and sustainability, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The Orinda, CA-based company plans to raise $200 million by offering 20 million units at a price of $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Valuence Merger I would command a market value of $250 million.
The company is led by CEO Sung Yoon Woo, founder and CEO of South Korean private equity firm Credian Partners, and plans to target a life sciences or sustainable technology firm in Asia (excluding China, Hong Kong and Macau).
The company was founded in 2021 and plans to list on the Nasdaq under the symbol VMCAU. SVB Leerink is the sole bookrunner on the deal.
