Hainan Manaslu Acquisition, a blank check company targeting businesses in high growth industries, raised $60 million by offering 6 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-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Zhifan Zhou, the General Manager of investment firm Hainan Winlong Capital, where he leads M&A operations. The company plans to target businesses globally focusing on those with clear strategies in high growth industries, such as high technology and e-commerce, and enterprise values between $200 million and $500 million.
Hainan Manaslu Acquisition plans to list on the Nasdaq under the symbol HMACU. Ladenburg Thalmann acted as sole bookrunner on the deal.
