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East Stone Acquisition Corp. (ESSCU) Prices Upsized $120M IPO


East Stone Acquisition Corp. (ESSCU) Prices Upsized $120M IPO

Feb 19, 2020 INTEL by Kristi Marvin

East Stone Acquisition Corp. (ESSCU), announced the pricing of their upsized $120 million SPAC IPO this evening and the units are expected to begin trading, tomorrow, Thursday, February 20th, under the symbol Nasdaq: ESSCU.

East Stone will be focusing on fintech in the North American and Asia Pacific regions, and will be led by Chunyi (Charlie) Hao, as Chairman and CFO, and Xiaoma (Sherman) Lu, as CEO and Director.

Total SPAC deal count for 2020 year-to-date is now 9 with $2.68 billion in gross proceeds raised. The offering is expected to close on Monday, February 24, 2020.

Congratulations to all.

I-Bankers Securities, Inc. acted as sole book-running manager for the offering and EarlyBirdCapital, Inc. acted as co-manager. Ellenoff Grossman & Schole LLP and Schiff Hardin LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC acted as auditor.