AlphaVest Acquisition priced its initial public offering of 6 million units at $10 each. The units began trading today on the Nasdaq under the ticker symbol ATMVU. Each consists of one share and one right good for one-tenth of a share upon consummation of a merger.
After the securities begin separate trading, shares and rights are expected to list under the symbols ATMV and ATMVR.
The offering is expected to close Dec. 22.
AlphaVest is broadly focused on companies in Asia, excluding companies with China operations consolidated through a VIE structure.
Chairman Pengfei Zheng has been chairman of Peace Capital Limited, a company principally engaged in private equity investment and asset management, since November 2021. Zheng is founder and president of Shenzhen Guoxing Capital, a company that specializes in investments and management, since June 2015.
CEO Yong (David) Yan has been a partner at the Shanghai-based V-Stone Capital since January 2014, where he oversees fund raising and private equity investments in FinTech, BlockChain, Big Data, Healthcare and other areas.
Earlybirdcapital is book-running manager with Revere Securities serving as co-manager of the offering. Read more.