As of March 7, 2024, 48 companies have successfully completed the filing procedures with the China Securities Regulatory Commission (CSRC). Among these 48 companies, six completed the filing process in June. One of these companies, Elong Power Holding Limited, adopted the Special Purpose Acquisition Company (SPAC) model.
▲ Number of companies
▲ Companies’ Name
The company that used SPAC :
▲Elong Power Holding Limited
▲ TMT Acquisition Corp.
Elong Power Holding Limited（亿珑能源控股有限公司）
In December 2023, Elong Power Holding Limited reached a final merger agreement with the SPAC company TMT Acquisition Corp. Following the completion of the transaction, the company plans to continue operating under the name Elong Power Holding Limited. According to the merger agreement, the company will simultaneously issue up to 15,350,000 ordinary shares. Additionally, they successfully completed the filing procedures with the CSRC on June 17, 2024.
In summary, as more companies complete the filing procedures, the trend of China enterprises going public through the SPAC model is gradually emerging. Elong Power Holding Limited, as a representative, has successfully demonstrated the feasibility and potential of this model. In the future, it is expected that more companies will achieve rapid listing and development through this approach.
