Recently, the SPAC model is hot in the US capital market, and many companies prepare to list, adding new vitality to the capital market. Here are the relevant company developments:

On November 22,2024, Elong Power Holding Limited (Epeng Energy) and SPAC special purpose merger company TMT Acquisition Corp (TMTC) merged to achieve NASDAQ listing, stock code: "ELPW".

In the early November of 2024, a total of 6 SPAC (special purpose merger and acquisition companies) were successfully listed on NASDAQ, raising a total of 825 million US dollars. The US SPAC market continued to be active.

In the context of globalization, the listing of Chinese enterprises in the United States has become an important way to broaden financing channels and enhance international competitiveness. However, it is not easy to successfully enter the international capital market in the United States. It needs to strictly abide by the laws and regulatory requirements of the United States, and also needs to complete the filing and approval of the China Securities Regulatory Commission.

On October 30,2024, Synagistics Company (Shiteng Holdings), a Southeast Asian e-commerce agency operation field of Alibaba, was listed on the main board of the Hong Kong Stock Exchange through the merger with SPAC Special Purpose Acquisition Company (Huide Acquisition), and the acquisition of Huide Holdings was renamed Shiteng Holdings (02562.HK)

With the continuous development and maturity of the SPAC market, the SPAC merger cases are constantly presented, bringing more vitality to the capital market.

In the first three quarters of 2024, the number of IPOs and financing scale of Chinese concept stocks in the United States increased significantly compared to the same period last year.

SPAC with a background in Hong Kong, China, was listed on NASDAQ in the United States on September 18, 2024, successfully raising $60 million in funds.