Yunhong ZGYHU =1C, + 1R + 1/2W
1 W + $11.50. -- Call $16.50.
Time 12 Months extendable to 21.
Trust $10.00 plus 0.10 per three-month period. to $10.30 at 21 months.
Close Feb 18, 2020.
Trust $10.00 - $60,000,000 of the net proceeds from the IPO and the Private Placement were placed in a trust account established for the benefit of the Company’s public stockholders at Morgan Stanley, N.A., with American Stock Transfer & Trust Company LLC acting as trustee.
Asia (excluding China). However, we believe we are particularly well-positioned to capitalize on growing opportunities created by consumer/lifestyle assets. We will not undertake our initial business combination with any entity with its principal business operations in China.
Our management team is led by our Chief Executive Officer, Mr. Patrick Orlando, our Chief Financial Officer, Mr. Andrey Novikov, and the Chairman of our Board of Directors, Mr. Yubao Li.
Mr. Patrick Orlando founded Benessere Capital, LLC, an investment consulting and investment banking firm in Miami, in October 2012 and has been serving as its Chief Executive Officer since then. At Benessere Capital, LLC, he has advised on fundraising, capital deployment, mergers and acquisitions, private placements in real estate, and products marketing. From March 2014 to August 2018, Mr. Orlando also served as the Chief Financial Officer of Sucro Can Sourcing LLC, a sugar trading company he co-founded, where he managed all financial matters including bank lines, futures and hedging, and investment banking relationships. He also negotiated, maintained, and executed all relevant insurance contracts. From November 2014 to August 2018, Mr. Orlando served as the Vice President of Sucro Can International LLC, a sugar processing company. From March 2011 to March 2014, Mr. Orlando served as the Managing Director and the Head of Structuring and Derivatives of BT Capital Markets, LLC, a boutique investment bank in Miami, Florida, where he was involved in managing global derivatives and structuring activities. From September 2006 to March 2011, Mr. Orlando served as Chief Technical Officer of Pure Biofuels Corporation, a renewable fuel corporation in Houston, Texas. From April 1998 to December 2003, Mr. Orlando served as the Director of Emerging Markets Derivatives of Deutsche Bank, where he advised institutional and private clients including Appaloosa, GMO, Fidelity Investments, and Pacific Investment Management Company on strategies.
Mr. Andrey Novikov has extensive experience and managerial skills in the international trade, FinTech, and e-commerce industries. Mr. Novikov is currently serving as a member of the Board of Directors of Innovative Payment Solutions, Inc (OTC: QPAGD), a US-based provider of physical and virtual payment services in the Mexican market. From January 2013 to October 2014, Mr. Novikov served as an advisor of QIWI PLC (NASDAQ: QIWI), primarily responsible for the company’s international development and merger and acquisition transactions. From May 2008 to January 2014, Mr. Novikov served as a Vice President of QIWI PLC. From May 1999 to November 2007, Mr. Novikov served as the Deputy Director General of Bela Catarina Ltd., a Portuguese-Russian trading and manufacturing company. His responsibilities included negotiating with customers and partners in foreign countries, organizing the marketing events in Russia and Belarus, and participating in staffing and implementing new sales analysis methods for business development and expansion. From June 1996 to May 1999, Mr. Novikov founded and managed Kvalitet Ltd., a trade company, where he was involved in the business development and implementation of the deliveries and sales technology.
Mr. Yubao Li, who, over a 20-year career, has served many demanding roles in industries that require extensive knowledge, critical thinking and surpassing key performance indicators, including the solar energy technology, biotechnology, agriculture technology and e-commerce industries. These experiences, along with his participation in the development of multiple businesses and state-owned projects, including multiple photovoltaic power generation projects in Hubei province and Liaoning province, have led to long term business relationships. He is a founder of and currently serving as the Chairman of the Board of China Hubei Yunhong Energy Group Co., Ltd (“Yunhong Energy”).
Since July 2018, Mr. Li has served as the President of Hubei Academy of Science and Technology Service Station, working with a team of experts to improve the efficiency of the organization, employing high quality professionals and promoting sustainable organic growth through internal innovation, with the goal of attaining strategic objectives.
Alongside these, Mr. Li also serves as the Director of Photoproteins Research Center at China’s Academy of Management Sciences. His responsibilities include supporting innovation through defining the research focus of the group; communicating with domestic and foreign enterprises to evaluate cooperative projects and to explore methods to expand the Photoproteins Research Center by furthering the group’s organizational structure.
Mr. Li has won several awards in his career. In 2016, he was selected as “China’s Outstanding Innovative Entrepreneur” by the China Enterprise Innovation Forum, sponsored by the Chinese Productivity Society. In December 2016, he received “Leading the Targeted Poverty Alleviation through Photovoltaic Agriculture” award from the China Photovoltaic Agricultural Working Committee. In addition, he was acknowledged for his innovative work by being presented the “Award for Global Innovation Leaders” by the Department of Science and Technology Bureau in 2017.
We believe the experiences and reputation of Mr. Novikov, Mr. Orlando and Mr. Li will be an important factor in both market confidence and in attracting prospective target businesses.
(2) Established Deal Sourcing Network
We believe the strong track record of our management team will enable us to get access to quality deal pipeline. In addition, we believe we, through our management team, have contacts and sources from which to generate acquisition opportunities and possibly seek complementary follow-on business arrangements. These contacts and sources include those in government, private and public companies, private equity and venture capital funds, investment bankers, attorneys and accountants.