Feutune Light Acquisition, a blank check company led by US Tiger Securities executive Tony Tian, raised $85 million by offering 8.5 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 of an initial business combination, and one warrant, exercisable at $11.50.
The company is led by CEO and Director Tony Tian, who serves as Managing Director and Head of Capital Markets at US Tiger Securities, and Chairwoman and President Lei Xu, the Executive President of Boya Foundation and a Limited Partner at Seraph Group.
While the SPAC is not limited to a particular industry or geographic region, it plans to target businesses with strong management, growth potential, and a competitive advantage, among other characteristics. It will not pursue a combination with businesses based in or with majority of operations in China (incl. Hong Kong and Macau).
Feutune Light Acquisition plans to list on the Nasdaq under the symbol FLFVU. Tiger Brokers and EF Hutton acted as joint bookrunners on the deal.
