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Cheche Group (Prime Impact Acquisition I) Priced, NYSE: CCG

Blank check company targeting a data-centric technology company (completed 9/18/2023).

Industry: SPAC

First Day Return: 0.0%

Industry: SPAC

Prime Impact Acquisition I is a blank check company domiciled in the Cayman Islands whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. We intend to focus on acquisition opportunities that capitalize on the growth of the data-centric economy. This economy is characterized by the dramatic growth in data, the increasing value that can be generated from that data and the profound disruption that harnessing and managing such data can have throughout the global economy. According to an industry source, the annual volume of data created worldwide from mobile devices, cloud computing, Internet of Things (IoT) devices and a host of other sources is expected to grow at a compound annual rate of over 28% from 2019 to 2025. That data is also becoming more valuable, as new applications allow consumers, businesses and governments to transform the way they live and operate and to address evolving needs, from healthcare and education to transportation, commerce and entertainment, among many others. According to an industry source, by 2025, digitization and the adoption of new technologies that leverage the resulting data sets could add up to $33 trillion in economic impact globally.
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Cheche Group (Prime Impact Acquisition I) (CCG) Performance