YHN Acquisition I Limited Successfully Closes $60 Million IPO
YHN Acquisition I Limited Completes Initial Public Offering
YHN Acquisition I Limited has announced a significant milestone in its journey by successfully closing its initial public offering. The company raised a substantial sum of $60 million through this offering, involving 6,000,000 units priced at $10.00 each. The closing of this offering marks a pivotal point in the company’s strategy to find and merge with compelling businesses.
Details of the Offering
The units issued in the offering are now publicly listed on the Nasdaq Global Market, where they began trading recently under the ticker symbol "YHNAU." Each unit of this offering comprises one ordinary share and a right to receive one-tenth of another ordinary share upon the successful completion of a business combination. As the individual securities are set to commence separate trading, interested investors can look for ordinary shares and rights under the symbols "YHNA" and "YHNAR," respectively.
Company Overview and Future Plans
YHN Acquisition I Limited operates as a blank check company. This business model focuses on identifying potential acquisition targets to merge with or acquire. The company has a broad scope in its quest for prospective target businesses, as it is not confined to any specific industry or region. Currently, YHN Acquisition I Limited is under the leadership of Mr. Satoshi Tominaga, who serves as the Chief Executive Officer.
Underwriters and Financial Strategies
For this public offering, Lucid Capital Markets, LLC took on the role of sole book-running manager. Additionally, the company has provided its underwriters the opportunity to purchase up to an extra 900,000 units within a 45-day window, serving as a hedge against any over-allotments during this offering period.
Accessing the Prospectus
Investors interested in the specifics surrounding the offering can access the prospectus. It is crucial for potential investors to review this document to understand the terms and conditions that apply. The prospectus will be made available from Lucid Capital Markets, LLC headquartered at 570 Lexington Avenue, 40th Floor, New York, New York.
Registration Status and Compliance
In compliance with regulations, a comprehensive registration statement, labeled Form S-1 (File No. 333-279308), has been filed with the U.S. Securities and Exchange Commission (SEC). This registration statement received approval from the SEC, thus allowing the offering to proceed. It's also essential to note that no part of this announcement serves as an invitation to buy or sell any securities unless properly registered or exempt from registration.
Frequently Asked Questions
What is the purpose of YHN Acquisition I Limited?
YHN Acquisition I Limited aims to merge, acquire, or reorganize with other companies to create long-term business value.
How much money did YHN Acquisition I Limited raise in its IPO?
The company raised $60 million through its initial public offering, selling a total of 6,000,000 units.
What are the components of the units sold in the offering?
Each unit consists of one ordinary share and a right to receive one-tenth of an ordinary share upon completion of a business combination.
Who manages the public offering?
Lucid Capital Markets, LLC acted as the sole book-running manager for the offering.
Where can I find the prospectus for this offering?
Copies of the prospectus are available through Lucid Capital Markets, LLC, located at 570 Lexington Avenue, New York.
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