Chinese executive-led SPAC XFLH Capital applies for a U.S. IPO aiming to raise $60 million
Chinese executive-led SPAC XFLH Capital has submitted an IPO application to the U.S. SEC, planning to raise $60 million by issuing 6 million shares at a price of $10 per share. This SPAC focuses on growth-oriented companies, targeting businesses with valuations between $200 million and $400 million, possessing strong management teams and stable cash flows. The company was established in 2025 and plans to list on NASDAQ under the ticker symbol XFLHU, with Maxim Group serving as the exclusive bookrunner
According to Zhitong Finance APP, XFLH Capital (XFLHU.US), a special purpose acquisition company (SPAC) led by Chinese executives, submitted documents to the U.S. Securities and Exchange Commission (SEC) on Monday, applying to raise up to $60 million through an initial public offering (IPO).
The company plans to issue 6 million shares at a price of $10 per share to raise $60 million. Each unit of stock includes 1 share of common stock and 1 right, which entitles the holder to receive 1/7 of a share of common stock upon the completion of a business combination.
The core management team of this SPAC is led by CEO and Director Yanzhe Yang, who is also the founder and CEO of Aroui Health Management. He is joined by CFO Tianshi Yang, who previously served as the Chief Strategy Officer (CSO) of SunCar Technology Group (SDA.US) and the Chief Financial Officer of TD Holdings.
In terms of investment targets, this SPAC plans to focus on "growth-oriented companies," with specific screening criteria including: a company valuation between $200 million and $400 million, a strong management team, a record of revenue and profit growth, and the ability to generate stable and sustainable free cash flow.
Founded in 2025 and headquartered in Dover, Delaware, the company plans to list on the NASDAQ stock exchange under the ticker symbol XFLHU. The exclusive bookrunner for this IPO is Maxim Group LLC
