AlphaTime Acquisition Corp. priced its $60 million IPO and its units began trading on the Nasdaq under the symbol “ATMCU” Friday, December 30, 2022.
The new SPAC intends to acquire businesses in Asia that have the potential to generate strong, stable, and increasing free cash flow, particularly businesses with predictable revenue streams and definable low working capital. AlphaTime is led by Chairman Xinfeng Feng, CEO Dajiang Guo, and CFO Jichuan Yang.
Total SPAC deal count for 2022 year-to-date is now 86. This offering is expected to close on Wednesday, January 4.
Chardan Capital Markets is acting as sole bookrunning manager of the offering. Winston & Strawn LLP is serving as Issuer’s Counsel with Greenberg Traurig, LLP serving as Underwriter’s Counsel. UHY, LLP serves as auditor. American Stock Transfer & Trust Company is acting as trustee.
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