Revere Securities acted as Co-Manger for the $100 Million IPO for Chenghe Acquisition Co.'s (Nasdaq: CHEAU)

Rhea-AI Summary

Revere Securities announced the successful IPO of Chenghe Acquisition Co. (Nasdaq: CHEAU), which raised $100 million by offering 11,500,000 units at a price of $10.00 each. The IPO units are now trading on the Nasdaq under the ticker symbol CHEAU. Each unit consists of one Class A ordinary share and one-half of a redeemable warrant, with whole warrants priced at $11.50 per share. Chenghe aims for strategic mergers in technology-enabled financial services, focusing on Asian markets, while avoiding operations based in Mainland China, Hong Kong, or Macau.

Positive

• Raised $100 million in IPO, enhancing liquidity.
• Focus on technology-enabled financial services offers growth potential.
• Exclusivity from Mainland China may attract investors seeking stability.

Negative

• Potential market competition in Asian financial technology space.
• Avoidance of businesses in significant markets limits target opportunities.

NEW YORK, May 5, 2022 /PRNewswire/ -- Revere Securities is pleased to announce the closing of Chenghe Acquisition Co.'s (Nasdaq: CHEAU) initial public offering of offering of 11,500,000 units at a public offering price of 10.00 per unit. Revere Securities LLC acted as co-manager for the IPO which raised a total amount of $100 Million. The units are listed on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "CHEAU" beginning April 28, 2022. Each unit consists of one of the Company's Class A ordinary shares and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A ordinary shares and warrants will be listed on the Nasdaq Global Market under the symbols "CHEA" and "CHEAW," respectively.

About Chenghe Acquisition Co.

Chenghe Acquisition Co. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination target in any business, industry or location, it intends to focus on financial technology or technology-enabled financial service companies, including artificial intelligence, big data, cloud and blockchain-related initiatives in Asian markets, which can benefit from the expertise and capabilities of the Company's management team to create long-term shareholder value. However, the Company will not undertake its initial business combination with any entity based in or with its principal business operations in Mainland China, Hong Kong or Macau.

About Revere Securities

Revere Securities is a global broker-dealer firm providing strategic and financial support to institutional investors, hedge funds, and individual investors. The firm's professionals are involved in all components of the sales and trading process and include extensive compliance and operational personnel. In addition, Revere Securities LLC provides differentiated corporate access, helping institutional clients gain access to management as a component of their investment process. The firm has industry focused sales specialists who possess "buy-side" experience; therefore, providing a sound, alternate perspective, to the investment process.

Media Contact:
Jay Yu
Revere Securities LLC
(212) 688-2350
jyu@reveresecurities.com

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SOURCE Revere Securities LLC

FAQ

What are the details of Chenghe Acquisition Co.'s IPO?

Chenghe Acquisition Co. raised $100 million by offering 11,500,000 units at $10.00 each, now trading under the symbol CHEAU.

What is the purpose of Chenghe Acquisition Co.?

Chenghe aims to effect mergers and acquisitions in technology-enabled financial services, focusing on Asian markets.

What do the units of Chenghe's IPO consist of?

Each unit includes one Class A ordinary share and one-half of a redeemable warrant, with whole warrants priced at $11.50.

When did Chenghe Acquisition Co.'s units begin trading?

The units began trading on April 28, 2022.

How does Chenghe Acquisition Co. plan to create shareholder value?

Chenghe plans to leverage its management team's expertise in financial technology to pursue business combinations.