The origins of Wins Finance as a publicly listed company start with Sino Mercury Acquisition Corporation (SMAC), which was formed as a special-purpose acquisition company. SMAC had been established and listed on the Nasdaq in 2014. The intention of forming the shell company was to raise money and serve as a backdoor for a Chinese company in the non-traditional financial sector to become listed in the US. The founders of SMAC were Richard Xu and Brad Reifler. The sole book runner on the IPO was Cantor Fitzgerald. SMAC's August 2014 IPO on the Nasdaq would raise $40 million.
Wins Finance was the target Chinese company acquired by SMAC in 2015 with the merged entity taking the name of Wins Finance. It would start trading on the Nasdaq in October 2015.
No comments:
Post a Comment