SPAC GalaxyEdge Acquisition prices $100 million US IPO, targeting long-term growth
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GalaxyEdge Acquisition, a SPAC backed by a Chinese sponsor, has priced its US IPO at $100 million, offering 10 million units at $10 each. Initially, it aimed to raise $60 million with 6 million units. Each unit includes one share of common stock and a right to receive a fraction of an ordinary share upon a business combination. Led by CEO Ping Zhang, the SPAC targets companies in underpenetrated markets. It plans to list on the NYSE as GLEDU, with Kingswood Capital Markets as the bookrunner.
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