Bowen Acquisition Corp Announces Closing of Full Over-Allotment Option
July 31 2023 - 5:15PM
Bowen Acquisition Corp (the “Company”) announced today that it
closed the sale of an additional 900,000 units at $10.00 per unit
for aggregate gross proceeds of $9,000,000 pursuant to the
underwriters’ over-allotment option granted in connection with the
Company’s initial public offering. Total proceeds raised in
the initial public offering, including the over-allotment option
exercise, was $69,000,000.
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, including the full exercise of the
underwriters’ over-allotment option, and a simultaneous private
placement of units, $69,690,000 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 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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