Aquaron Acquisition, a special purpose acquisition company (SPAC) that targets the new energy sector in Asia, has raised $50 million in its initial public offering (IPO) in the US, its recent filings showed.
The blank cheque company, led by CEO and chairman Yi Zhou, offered 5 million shares at $10 each, with each share consisting of one share of common stock and one right to receive one-fifth of a share upon completion of an initial business combination.