Beijing-based SPAC Wintergreen Acquisition Corp. (WTGUU) raised $50 million, as expected, on Wednesday night, May 28, 2025. Wintergreen Acquisition, which will focus on the technology, media and telecom (TMT) sector in Asia, including China, priced 5.0 million units at $10.00 each, in sync with the terms in the prospectus. On Thursday, May 29, 2025, Wintergreen Acquisition opened flat – at $10.00 – on NASDAQ. Wintergreen was last trading at $10.01 – up 1 penny – at midday on NASDAQ after swinging from an intraday low of $9.99. This SPAC is incorporated in the Cayman Islands.
D. Boral Capital (formerly EF Hutton) served as the sole book-runner.
“We will search for companies involved in the production or technology related to intelligent chips, 5G, integrated circuitry and other emerging technologies,” Wintergreen Acquisition Corp. said in the prospectus.
Yongfang “Fayer” Yao, the CEO and chairman of Wintergreen Acquisition Corp., is the founder and CEO of Shenzhen Yihaiyun Technologyy Co., Ltd., a virtual education company involved in the metaverse, the prospectus said. The company’s business includes the development of hardware products such as virtual teaching VR/AR headsets, virtual teaching content, and software technology services. (Note: In the gaming world, players interact in the metaverse in virtual worlds like Fortnite and Roblox.)
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