Bowen Acquisition Corp Announces Closing of $60,000,000 Initial Public Offering
July 17 2023 - 9:15AM
Bowen Acquisition Corp (the “Company”) announced today that it
closed its initial public offering of 6,000,000 units at $10.00 per
unit. The offering resulted in gross proceeds to the Company of
$60,000,000.
The Company’s units are listed on the Nasdaq
Global Market (“Nasdaq”) and commenced trading under the ticker
symbol “BOWNU” on July 12, 2023. Each unit consists of one ordinary
share and one right entitling the holder thereof to receive
one-tenth of one ordinary share upon the completion of an initial
business combination, subject to adjustment. Once the securities
comprising the units begin separate trading, ordinary shares and
rights are expected to be listed on Nasdaq under the symbols “BOWN”
and “BOWNR,” respectively.
Bowen Acquisition Corp is a Cayman exempt
company formed as a blank check company for the purpose of entering
into a merger, share exchange, asset acquisition, share purchase,
recapitalization, reorganization or similar business combination
with one or more businesses or entities. The Company’s efforts to
identify a prospective target business will not be limited to a
particular industry or geographic region. The Company is led by its
Chairwoman of the Board, Na Gai, its Chief Executive Officer,
Jiangang Luo, its Chief Financial Officer, Jing Lu, and its
independent Directors, Lawrence Leighton, Wei Li, and Jun
Zhang.
Of the proceeds received from the consummation
of the initial public offering and a simultaneous private placement
of units, $60,600,000 was placed in trust.
EarlyBirdCapital, Inc. acted as the book-running
manager for the offering and Revere Securities acted as co-manager
for the offering. The Company has granted the underwriters a 45-day
option to purchase up to an additional 900,000 units at the initial
public offering price to cover over-allotments, if any. The
offering was made only by means of a prospectus. Copies of the
prospectus may be obtained, when available, from EarlyBirdCapital,
Inc., 366 Madison Avenue, New York, New York 10017, Attention:
Syndicate Department, or (212) 661-0200.
A registration statement relating to these
securities was filed with the Securities and Exchange Commission
(“SEC”) and was declared effective on July 11, 2023. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING
STATEMENTS
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the anticipated use of net proceeds. No assurance can be given that
the net proceeds of the offering will be used as indicated.
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 Company’s registration
statement and preliminary prospectus for the offering filed 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:Jing Lujinglu@bowenspac.com
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