Flag Ship announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FSHPU”, Tuesday, June 18, 2024.
The new SPAC aims to combine with a company valued between $200 million and $400 million with strong growth potential and that could stand to benefit from becoming a public company.
Flag Ship’s sponsor team will be led by CEO and Chairman Matthew Chen and CFO Luhuan Zhong. Shan Cui, Pai Liu and Wen He are to serve as Flag Ship’s Board of Directors
Total SPAC deal count for 2024 year-to-date is now 15. This offering is expected to close on Thursday, June 20, 2024.
Lucid Capital Markets is acting as the sole book-running manager for the offering. Becker & Poliakoff LLP is serving as Issuer’s Counsel with Kramer Levin Naftalis & Frankel LLP serving as Underwriter’s Counsel. Marcum Asia CPAs LLP serves as auditor. Wilmington Trust, National Association is acting as trustee.
At the SPAC of Dawn With one new entry in each of the SPAC deal, IPO and new S-1 filing columns, there are revived hopes that the market will regain the pace it had set in August and September. Aldel Financial II Inc.‘s (NASDAQ:ALDFU) IPO slated for today is October’s fourth after September turned out...
Aldel Financial II Inc. announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ALDFU”, Tuesday, October 22, 2024. The new SPAC plans to combine with an established business of scale with prospects for positive cash flow and the infrastructure to handle being...
Investcorp AI (NASDAQ:IVCA) has advanced to a definitive agreement to combine with software firm Bigtincan (ASX:BTH) at an equity value of $275 million. Sydney, Australia-based Bigtincan provides a software platform for enterprise clients to onboard and optimize employee performance. The combined company is expected to trade on the Nasdaq once the deal is completed in...
At the SPAC of Dawn The SPAC market is rumbling back to life after a quiet stretch through the month’s Jewish holidays. Fresh off of a name change, Investcorp AI (NASDAQ:IVCA) announced the month’s second business combination this morning, advancing a letter of intent it first announced on October 2 to a definitive agreement. The...
Terms Tracker for the Week Ending October 18, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. October has had back-to-back religious holidays, which has kept things on the quiet side, including for this week. And while that’s generally to be expected...