Goldenbridge Acquisition Limited (Nasdaq: GBRG) announced this afternoon that it has completed its business combination with digitalized auto services provider Auto Services Group through its indirect majority-owned subsidiary Sun Car Online Insurance Agency.
The SPAC’s shareholders already approved the deal at a meeting held on April 14, but at that time, it noted that it was planning to close as soon as possible and would continue to accept reversal of redemption requests until then. Goldenbridge still has not yet released information on its redemptions in connection with its vote, but the transaction also did not include a minimum cash condition.
Beginning Thursday, May 18, SunCar’s Class A ordinary shares and warrants will trade on the Nasdaq under the ticker symbols “SDA” and “SDAWW,” respectively.
Goldenbridge announced the $858 million combination with Auto Services Group in May 2022. Shanghai, China-based SunCar is a leading provider of digital platforms of comprehensive automotive services and market-wide auto insurance products in China.
ADVISORS
- Maxim Group LLC is acting as M&A and financial advisor to Goldenbridge.
- Loeb & Loeb LLP is acting as legal advisor to Goldenbridge.
- Pryor Cashman LLP is acting as legal advisor to SunCar.
- Chain Stone Capital Limited (CTM) is acting as financial advisor to SunCar.
Pelican Acquisition Corp. (NASDAQ:PELIU) announced the pricing of its $75 million IPO and its units began trading on the Nasdaq under the symbol “PELIU”, Friday, May 23, 2025. The new SPAC aims to combine with a technology company with a defensible market position that would benefit from being publicly traded in the US. Pelican’s management...
Cohen Circle II (NASDAQ:CCIIU) has filed for a $220 million SPAC marking the second wave of the Betsy Cohen team’s return to the market in the burgeoning 2024/2025 cycle. The new SPAC brings slightly less warrant coverage than its predecessor Cohen Circle I (NASDAQ:CCIR) with a 1/4 warrant in each of its units as opposed...
A Paradise (NASDAQ:APADU) has filed for a $200 million SPAC to get a fresh Asia-focused vehicle on the road with a leader that has steered several SPACs before. The new SPAC continues underwriter Cohen & Company’s warpath as its 15th SPAC put on file this year, with the firm’s 12th SPAC IPO debut set for...
On this week’s SPACInsider REPLAY, we revisit a 2022 conversation with Harry Sloan of the Eagle SPACs. At the time, Harry had already completed seven SPACs and was closing in on his eighth. As markets cooled and the SPAC boom waned, Harry offered a prescient take on where the market was headed—and what a “post-boom”...
At the SPAC of Dawn Betsy Cohen’s team is back with a new S-1 filing for Cohen Circle II (NASDAQ:CCIIU). The filing is good news for the health of the SPAC market as it represents something of a second wave of SPACs by the serial sponsor teams. Cohen Circle I (NASDAQ:CCIR) listed in October 2024...