Wealthbridge Prices $50M IPO Hoping To Buy Chinese Air Co.

Law360 (February 6, 2019, 6:49 PM EST) -- Wealthbridge Acquisition Ltd. on Tuesday raised $50 million in an initial public offering intended to help fund an acquisition of a Chinese air transportation business, joining several blank-check companies that have completed deals in early 2019 in an otherwise slow period for IPOs.

New York-based Wealthbridge, represented by Loeb & Loeb LLP, said it priced 5 million units at $10 each, raising $50 million. Proceeds could rise to $57.5 million if the underwriters exercise an option to buy an additional 750,000 units at the IPO price in the next 45 days.

Wealthbridge said it hopes to acquire a businesses in the...

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