Qomolangma Acquisition Corp. priced its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “QOMOU” Friday, September 30, 2022.
The new SPAC intends to focus its efforts on technology companies operating in Asian markets that have a total enterprise value between $300 million and $500 million. Qomolangma is led by Chairman, President, and CEO Jonathan P. Myers, and CFO Has Shen.
Total SPAC deal count for 2022 year-to-date is now 77. This offering is expected to close on Tuesday, October 4.
Ladenburg Thalmann is acting as the sole book running manager for the offering. Kramer Levin Naftalis & Frankel LLP is serving as Issuer’s Counsel with Wilson Sonsini Goodrich & Rosati serving as Underwriter’s Counsel. Friedman LLP serves as auditor. American Stock Transfer & Trust Company, LLC, is acting as trustee.
SEC Chair Gary Gensler made waves with public remarks last week noting that the agency would be looking at potentially making enforcement actions against companies found to be “AI-washing” their descriptions of business operations, claiming to have an artificial intelligence angle where one does not exist. He did not connect this issue with SPACs directly,...
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