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Chenghe Acquisition II Co. Class A (CHEB+0.68%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's status as a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
As of December 31, 2024, the company had approximately $85,185,671 held in a trust account, intended for use in a business combination.
Chenghe Acquisition II Co. completed its initial public offering on June 10, 2024, raising $86,250,000 through the sale of 8,625,000 units at $10.00 per unit.
Simultaneously with the IPO, the company completed a private placement of 310,000 units, generating additional proceeds of $3,100,000.
The company has entered into a Business Combination Agreement with Polibeli Group Ltd., a Cayman Islands exempted company, and Polibeli Merger One Limited, a direct wholly owned subsidiary of Polibeli.
The agreement contemplates a merger in which Chenghe will become a wholly-owned subsidiary of Polibeli, subject to customary closing conditions and regulatory approvals.
The filing also outlines potential risks, including the company's dependence on successful completion of a business combination, regulatory compliance, and geopolitical factors that could impact the company's operations and financial condition.
Chenghe Acquisition II Co. acknowledges its reliance on the experience of its management team to identify and acquire a target company, with a focus on growing companies in Asian markets.
The company has not yet selected a target business for its initial business combination and continues to evaluate potential opportunities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Chenghe Acquisition II Co. Class A annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.