How do domestic enterprises acquire companies for listing through special purpose?

Special purpose acquisition company (special purpose acquisition? Company (special purpose acquisition company) is a financial instrument that crosses the IPO listing approval process, has lower cost than shell listing/backdoor listing, and can be listed on the main board of NASDAQ in the United States in a short time. It is most suitable for domestic small and medium-sized enterprises with financing needs to go public in the United States.

Steps to acquire a company through special purpose and go public:

The management of a special purpose acquisition company establishes a special purpose acquisition company;

The management of the special purpose acquisition company prepares to issue application documents;

Roadshow to investors;

The special purpose acquisition company is listed on Nasdaq or NYSE (IPO);

The management of a special purpose acquisition company needs to find the target enterprise and complete the merger within 24 months;

The management of the special purpose acquisition company conducts due diligence on the target enterprise;

Both parties to the merger determine the merger plan;

Roadshow for shareholders

Shareholders of the special purpose acquisition company will vote for it;

The newly listed companies merged and renamed, and the new company was officially listed on the main board of the United States;

The newly listed companies conduct transactions on the main board and obtain secondary financing;

After finding the target company, the whole listing process usually takes only 6-8 months, and it can be completed in 3 months at the earliest.