Maywood Acquisition Corp. Announces Closing of $86,250,000 Initial Public Offering
Maywood Acquisition Corp has successfully completed its initial public offering (IPO), raising $86,250,000 in gross proceeds through the sale of 8,625,000 units at $10.00 per unit, including the full exercise of underwriters' over-allotment option of 1,125,000 units.
The units, trading on Nasdaq Global Market under symbol MAYAU, consist of one Class A ordinary share and one right to receive one-fifth of a Class A ordinary share upon completing a business combination. The ordinary shares and rights will separately trade under symbols MAYA and MAYAR.
The company, formed as a Cayman exempt blank check company led by CEO Zikang Wu, aims to merge or combine with existing businesses. The entire net proceeds of $86,250,000 from the IPO, private placement, and sponsor loan have been placed in trust.
Maywood Acquisition Corp ha completato con successo la sua offerta pubblica iniziale (IPO), raccogliendo $86.250.000 in proventi lordi attraverso la vendita di 8.625.000 unità a $10,00 per unità, inclusa l'intera esercitazione dell'opzione di over-allotment degli underwriter di 1.125.000 unità.
Le unità, che vengono scambiate sul Nasdaq Global Market con il simbolo MAYAU, consistono in una azione ordinaria di Classe A e un diritto a ricevere un quinto di un'azione ordinaria di Classe A al completamento di una combinazione aziendale. Le azioni ordinarie e i diritti verranno scambiati separatamente con i simboli MAYA e MAYAR.
La società, costituita come una società di controllo priva di attività nelle Isole Cayman e guidata dall'amministratore delegato Zikang Wu, mira a fondersi o combinarsi con aziende esistenti. L'intero provento netto di $86.250.000 dall'IPO, dal collocamento privato e dal prestito del sponsor è stato depositato in un fondo fiduciario.
Maywood Acquisition Corp ha completado con éxito su oferta pública inicial (IPO), recaudando $86,250,000 en ingresos brutos a través de la venta de 8,625,000 unidades a $10.00 por unidad, incluyendo el ejercicio completo de la opción de sobreasignación de los suscriptores de 1,125,000 unidades.
Las unidades, que se cotizan en el Nasdaq Global Market bajo el símbolo MAYAU, constan de una acción ordinaria de Clase A y un derecho a recibir una quinta parte de una acción ordinaria de Clase A al completar una combinación de negocios. Las acciones ordinarias y los derechos se negociarán por separado bajo los símbolos MAYA y MAYAR.
La compañía, formada como una empresa de cheque en blanco exenta de las Islas Caimán y liderada por el CEO Zikang Wu, tiene como objetivo fusionarse o combinarse con negocios existentes. La totalidad de los ingresos netos de $86,250,000 de la IPO, la colocación privada y el préstamo del patrocinador se han depositado en un fideicomiso.
Maywood Acquisition Corp는 성공적으로 공모주식상장(IPO)을 완료하고, $86,250,000의 총 수익을 8,625,000개의 유닛을 주당 $10.00에 판매하여 모집하였습니다. 여기에는 1,125,000개의 유닛에 대한 인수인의 초과 배정 옵션의 전액 행사도 포함됩니다.
유닛은 MAYAU라는 기호로 나스닥 글로벌 마켓에서 거래되며, 하나의 클래스 A 보통주와 비즈니스 조합 완료 시 클래스 A 보통주의 1/5를 받을 권리가 포함되어 있습니다. 보통주와 권리는 각각 MAYA 및 MAYAR라는 기호로 거래됩니다.
회사는 케이맨 제도의 면세 빈 체크 회사로 CEO Zikang Wu가 이끌고 있으며 기존 사업과 합병하거나 결합하는 것을 목표로 하고 있습니다. IPO, 사모 배치 및 스폰서 대출에서 발생한 총 순수익 $86,250,000은 신탁에 예치되었습니다.
Maywood Acquisition Corp a réussi à mener à bien son introduction en bourse (IPO), levant $86.250.000 de recettes brutes grâce à la vente de 8.625.000 unités à 10,00 $ par unité, y compris l'exercice complet de l'option de surallocation des souscripteurs de 1.125.000 unités.
Les unités, qui se négocient sur le Nasdaq Global Market sous le symbole MAYAU, se composent d'une action ordinaire de Classe A et d'un droit de recevoir un cinquième d'une action ordinaire de Classe A lors de la réalisation d'une combinaison d'entreprises. Les actions ordinaires et les droits seront négociés séparément sous les symboles MAYA et MAYAR.
La société, constituée comme une société de chèque en blanc exemptée des îles Caïmans et dirigée par le PDG Zikang Wu, vise à fusionner ou à se combiner avec des entreprises existantes. L'intégralité des produits nets de 86.250.000 $ provenant de l'IPO, du placement privé et du prêt du sponsor a été placée en fiducie.
Maywood Acquisition Corp hat erfolgreich ihr Initial Public Offering (IPO) abgeschlossen und dabei $86.250.000 an Bruttoerlösen durch den Verkauf von 8.625.000 Einheiten zu je $10,00 pro Einheit erzielt, einschließlich der vollständigen Ausübung der Überzuteilungsoption der Underwriter von 1.125.000 Einheiten.
Die Einheiten, die unter dem Symbol MAYAU am Nasdaq Global Market gehandelt werden, bestehen aus einer Class A Stammaktie und einem Recht auf den Erhalt eines Fünftels einer Class A Stammaktie bei Abschluss einer Unternehmenszusammenlegung. Die Stammaktien und Rechte werden separat unter den Symbolen MAYA und MAYAR gehandelt.
Das Unternehmen, das als Cayman-exempt Blank-Check-Unternehmen gegründet wurde und von CEO Zikang Wu geleitet wird, hat das Ziel, sich mit bestehenden Unternehmen zu fusionieren oder zu kombinieren. Der gesamte Nettoerlös von $86.250.000 aus der IPO, der Privatplatzierung und dem Darlehen des Sponsors wurde in einem Treuhandfonds hinterlegt.
- Successful IPO raising $86.25 million in gross proceeds
- Full exercise of over-allotment option indicating strong demand
- 100% of net proceeds placed in trust, protecting investor capital
- Listing on major exchange (Nasdaq Global Market)
- No operating business or revenue generation currently
- No guaranteed timeline for business combination completion
- Investors face uncertainty until target acquisition is identified
Insights
This
The trust account holding
The timing of this IPO amid challenging SPAC market conditions indicates confidence in the management team's ability to execute. The involvement of Cohen & Company Capital Markets, known for their SPAC expertise, adds credibility to the offering. The structure and size suggest a disciplined approach to target hunting, prioritizing deal quality over size in a market where successful de-SPAC transactions have become increasingly challenging.
NEW YORK CITY, NY / ACCESS Newswire / February 14, 2025 / Maywood Acquisition Corp. (the "Company") announced today that it completed its initial public offering of 8,625,000 units at
The Company's units are listed on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "MAYAU." Each unit consists of one Class A ordinary share and one right entitling its holder to receive one-fifth of one Class A ordinary share upon the Company's completion of an initial business combination, subject to adjustment. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on Nasdaq under the symbols "MAYA" and "MAYAR," respectively.
The Company is a Cayman exempt company, formed as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company is led by its Chairman of the Board and Chief Executive Officer, Zikang Wu. Of the net proceeds received from the initial public offering, a simultaneous private placement of units and a loan from the Company's sponsor, an aggregate of
Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as the lead book-running manager for the offering and Seaport Global Securities acted as joint-book-runner for the offering. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com.
A registration statement relating to these securities was filed with the Securities and Exchange Commission (the "SEC") and was declared effective on February 12, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute "forward-looking statements." No assurance can be given that the net proceeds of the offering will be used as indicated in the prospectus. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements
for revisions or changes after the date of this release, except as required by law.
Contact:
Investor Relations
ir@maywoodacq.com
SOURCE: Maywood Acquisition Corp.
View the original press release on ACCESS Newswire
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