TenX Keane Acquisition, a blank check company targeting businesses in Asia, raised $60 million by offering 6.0 million units at $10. Each unit consists of one share of common stock and one right to receive two-tenths of a share upon completion of an initial business combination.
TenX Keane Acquisition is led by CEO and Chairman Xiaofeng Yuan, who is based in China and previously founded women's healthcare company 38Fule Group in 1992, and currently serves as Chairman of Shaanxi 38Fule Technology. He is joined by and CFO and Director Taylor Zhang, who most recently served as CFO of China XD Plastics (Nasdaq: CXDC).
The New York, NY-based company will utilize management's experience and connections to target businesses in Asia (excluding China, Hong Kong, and Macau) with enterprise values between $200 million and $600 million.
TenX Keane Acquisition plans to list on the Nasdaq under the symbol TENKU. Maxim Group LLC acted as sole bookrunner on the deal.
