Chinese co-working space provider Ucommune’s SPAC files for $50m US IPO

Chinese co-working space provider Ucommune’s SPAC files for $50m US IPO

Photo: Ucommune

UK Wisdom, an Asia-focused blank cheque company formed by Chinese co-working space provider Ucommune, seeks to raise $50 million in an initial public offering (IPO) in the US, according to a regulatory filing.

Headquartered in Beijing, the special purpose acquisition company (SPAC) plans to offer 5 million units at $10 each, with each unit consisting of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter