On September 18, 2024, New York time, SPAC company YHN Acquisition I Limited successfully went public on the NASDAQ Global Market, raising $60 million and nearly doubling its oversubscription.

The company priced its initial public offering of 6000000 units at $10.00 per unit. The stock code is "YHNAU". Each unit includes one common stock and the right to receive one tenth of the common stock upon completion of the initial business merger. Once the securities comprising these units begin to trade separately, the common stock and rights are expected to be listed on NASDAQ under the codes "YHNA" and "YHNAR", respectively. Lucid Capital Markets, LLC is the sole bookkeeper for this issuance. The company has granted the underwriters a 45 day option to purchase up to 900000 additional units at the initial public offering price to offset the over allotment (if any).

This SPAC was jointly initiated by Norwich Capital and Yonghe Capital. Norwich Capital has a prominent reputation in the SPAC market, especially with rich experience in operating in the Chinese and American markets. Founder Wang Ganwen is known as the "Godfather of Asian SPACs" and has participated in the initiation and listing of multiple SPACs. In September 2021, the Hong Kong Stock Exchange issued a consultation document on the listing system of SPACs in Hong Kong, and Mr. Wang Ganwen submitted written suggestions to the Hong Kong Stock Exchange as a representative. Some of his suggestions were adopted by the Hong Kong Stock Exchange.

Through this cooperation, the two companies can enhance their competitiveness and expand their market share through resource sharing, occupying a favorable position in the fierce market competition and achieving a win-win situation. At the same time, it also provides confidence and opportunities for more domestic companies that want to go public through SPAC.

SPAC (Special Purpose Acquisition Company), literally translated as: Special Purpose Acquisition Company, is an emerging listing method in the global capital market in recent years. Its main advantages are guaranteed listing, short time cycle, and low cost. Compared with traditional IPOs, it is equivalent to helping companies save a lot of time, and in the case of fleeting market opportunities, it can effectively assist companies, seize market opportunities in a timely manner, and provide greater flexibility for companies.

The overseas listed capital group of small and medium-sized enterprises believes that in the future, SPAC will still have a high tolerance for the industries in which the enterprises operate and their revenue and profits. Small and medium-sized enterprises with special development potential in various industries will still be favored by SPAC. According to market performance, more and more companies are choosing to go public through SPACs, including well-known companies such as Lotus, Burger King, and American Express English. This trend is also in line with the current global economic recovery and reflects investors' strong desire for potential stocks. With the global popularity of SPAC, it will continue to attract a large amount of capital inflows, and in the future, SPAC may become the mainstream listing method in the capital market.