SPAC Lakeshore Acquisition III
SPAC Lakeshore Acquisition III
SPAC Lakeshore Acquisition III files for a $60 million IPO; third SPAC led by Chinese investor Bill Chen
Lakeshore Acquisition III, the third blank check company formed by the CEO of Shanghai Renaissance Investment Management, filed on Friday with the SEC to raise up to $60 million in an initial public offering.
The New York, NY-based company plans to raise $60 million by offering 6 million units at $10. Each unit consists of one share of common stock and one right to receive one-sixth of a share upon the completion of an initial business combination.
Lakeshore Acquisition II is led by CEO and CFO Bill Chen, the founder and CEO of Shanghai Renaissance Investment Management. The SPAC's prospective target business will not be limited to a particular industry, though it plans to focus on businesses in North America, South America, Europe, or Asia.
Chen's previous SPACs include Lakeshore Acquisition I, which completed its combination with medical device maker ProSomnus Holdings (OSA; -95% from $10 offer price) in 2022, and Lakeshore Acquisition II, which completed its combination with agtech Nature's Miracle Holding (NMHI; -99%) in 2024.
Lakeshore Acquisition III was founded in 2024 and plans to list on the Nasdaq under the symbol LCCCU. The company filed confidentially on January 15, 2025. A.G.P. is the sole bookrunner on the deal.
Lakeshore Acquisition III, the third blank check company formed by the CEO of Shanghai Renaissance Investment Management, filed on Friday with the SEC to raise up to $60 million in an initial public offering.
The New York, NY-based company plans to raise $60 million by offering 6 million units at $10. Each unit consists of one share of common stock and one right to receive one-sixth of a share upon the completion of an initial business combination.
Lakeshore Acquisition II is led by CEO and CFO Bill Chen, the founder and CEO of Shanghai Renaissance Investment Management. The SPAC's prospective target business will not be limited to a particular industry, though it plans to focus on businesses in North America, South America, Europe, or Asia.
Chen's previous SPACs include Lakeshore Acquisition I, which completed its combination with medical device maker ProSomnus Holdings (OSA; -95% from $10 offer price) in 2022, and Lakeshore Acquisition II, which completed its combination with agtech Nature's Miracle Holding (NMHI; -99%) in 2024.
Lakeshore Acquisition III was founded in 2024 and plans to list on the Nasdaq under the symbol LCCCU. The company filed confidentially on January 15, 2025. A.G.P. is the sole bookrunner on the deal.