A Paradise Acquisition Stock Debuts On Nasdaq, Shares Flat In Initial Trade

A Paradise Acquisition Corp. debuted on the Nasdaq Capital Market at $10.01 on Wednesday.

The firm floated the initial public offering with 20 million units on offer, at an offer price of $10.

At the time of writing, A Paradise Acquisition’s units were hovering around $10.01, edging up marginally compared to the issue price.

The blank check company has been formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses.

Cohen & Company Capital Markets, a division of Cohen & Company Securities LLC, was the sole book-running manager.

The company has also granted the underwriter an option to purchase up to three million more shares at the issue price of $10.

The leisure and entertainment-focused company is led by Claudius Tsang, who is also the CFO and chairman. He was previously the CEO of Model Performance Acquisition, which subsequently merged with Chinese video and anime company MultiMetaVerse.

A Paradise Acquisition was formed in 2022, and it is based in Hong Kong.

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