Oak Woods Acquisition Files for $50M IPO

tech-focused Oak Woods Acquisition registered with the SEC to offer 5 million units at $10 each, with a unit consisting of share, a warrant and one right to receive one-sixth of a share upon the closing of an initial business combination.

Oak Woods intends to target high-growth technology companies in the Asia-pacific region that are engaging in the public and private healthcare, medical services and technology-enabled healthcare services sectors.

The SPAC is led by CEO, Chairman and Director Lixin Zheng, who is also serving as . Zheng was a financial director and the CFO for Ajisen (China) Holdings Co., Ltd. in Hong Kong from November 2006 to November 2008, one of the leading fast casual restaurant chain operators in Asia, according to the . He has successfully operated and raised HKD 1.8 billion for Ajisen, which was rated as the best medium-sized enterprise listing project in 2007 by the Asian Finance magazine. More recently he served as CFO at Jinke Investment Holding Group in its Shanghai and Hong Kong office.  

The SPAC plans to apply for a Nasdaq listing under the symbol OAKUU.

EF Hutton is sole book-running manager. Read more.

Source: Oak Woods Acquisition Files for M IPO