HONG
KONG, Jan. 23, 2024 /PRNewswire/ -- JVSPAC
Acquisition Corp. (NASDAQ:JVSAU) (the "Company"), a newly
incorporated blank check company incorporated as a British Virgin Islands exempted company formed
for the purpose of effecting a merger, share exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses, today announced the
closing of its previously announced initial public offering of
5,750,000 units at an offering price of $10.00 per unit, which includes 750,000 units
issued pursuant to the full exercise of the underwriter's
over-allotment option, for aggregate gross proceeds to the Company
of $57,500,000.
Each unit consists of one Class A ordinary share and one right.
Each right entitles the holder thereof to receive one-fourth (1/4)
of one Class A ordinary share upon consummation of the Company's
initial business combination. The units began trading on the Nasdaq
Capital Market ("Nasdaq") under the ticker symbol "JVSAU" on
January 19, 2024. Once the securities
comprising the units begin separate trading, the ordinary shares
and rights will be traded on Nasdaq under the symbols "JVSA" and
"JVSAR," respectively.
Maxim Group LLC acted as the sole book-running manager for the
offering.
A registration statement on Form S-1 (File No. 333-275176) (the
"Registration Statement") relating to the securities sold in the
initial public offering was declared effective by the U.S.
Securities and Exchange Commission (the "SEC") on January 18, 2024. The offering was made only by
means of a prospectus. Copies of the prospectus relating to this
offering may be obtained from Maxim Group LLC, 300 Park Avenue,
16th Floor, New York,
NY 10022, Attention: Syndicate Department, by telephone at
(212) 895-3745 or by email at syndicate@maximgrp.com, or by
accessing the SEC's website, www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About JVSPAC Acquisition Corp.
JVSPAC Acquisition Corp. is a blank check company, also commonly
referred to as a special purpose acquisition company, or SPAC,
formed for the purpose of effecting a merger, share exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. JVSPAC Acquisition Corp.
intends to focus on businesses in the lifestyle sector, with a
focus on technology enabled companies.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the closing
of the Company's search for an initial business combination. No
assurance can be given that the offering discussed above will be
completed on the terms described, or at all. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Registration Statement and related
preliminary prospectus filed in connection with the initial public
offering with the SEC. Copies are available on the SEC's website,
www.sec.gov. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
Contact Information:
enquiries@jvspac.com
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SOURCE JVSPAC Acquisition Corp.