Fortune Joy Trims Deal Size 20% Ahead of $60M IPO

-focused Fortune Joy International Acquisition in an amended S-1 said it now plans to offer 6 million units, down from the 7.5 million units cited in the SPAC's S-1 filed in November 2021. Fourtune Joy initially registered with the to offer 4 million units in October 2021.

A unit now consists of Class A ordinary share, a warrant and one right to receive one-tenth of a share if the SPAC closes a merger. This represents a sweetened offering over the original plan for one unit to consist of a share and half a warrant.

The SPAC is still focused on Asia-Pacific companies engaged in fast-moving consumer goods, internet based  technologies and new energy industries.

Fortune Joy is led by CEO and Director Long Chen, who founded Beijing Xiying Times Culture Group, an e-commerce based social media and entertainment online shopping company. 

US Tiger Securities is managing the offering.

Fortune Joy plans to apply for a listing under the ticker symbol XYGJU. Read more.


Source: Fortune Joy Trims Deal Size 20% Ahead of M IPO