Some SPACs call this a “deferred fee”, which generally implies more services than just marketing. E ast Stone Acquisition, a blank check company formed by East Stone Capital to acquire a fintech business, filed on Friday with the SEC to … ESSC 10.02 0.02 (0.20%). It focuses on providing technological services to the financial industry in North America and the Asia-Pacific. East Stone Acquisition Corp. (ESSCU), filed for a $100 million IPO this morning, making it a total of seven SPACs on file now for 2020. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. East Stone Acquisition Corporation operates as a blank check company. And while Mr. Hao’s SPAC experience is from roughly a decade ago, it’s still SPAC experience and that counts for something. East Stone will be focusing on fintech in North American and the Asia Pacific regions, and will be led by Chunyi (Charlie) Hao, as Chairman and CFO, and Xiaoma (Sherman) Lu, as CEO and Director nominee. Again, we’re seeing a bifurcation in SPAC terms between the larger A++ teams and the sub $100 million deals. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS. Files $100M SPAC IPO. I checked on SEC.gov as that screen piqued my interest and found an 8-k announcing a merger with Ufin. By supplying the partner stores with reliable and timely delivery of branded consumer products, JHD provides a reliable supply chain to the stores. (iii) notwithstanding (i) and (ii) above. Jan 17, 2020 INTEL by Kristi Marvin. PROPOSED BUSINESS COMBINATION: Ufin Holdings Limited ESTIMATED CURRENT FUNDS in TRUST: $138.9 million*CURRENT PER SHARE REDEMPTION PRICE: $10.06*ENTERPRISE VALUE: TBD … To enable financial inclusion of communities that are significantly underbanked, JHD’s platform has already enabled 3,000 outlets to become licensed rural area financial stations, enabling established banks to extend their branch network to serve more consumers. Mr. Lu, East Stone’s Chief Executive Officer will join the combined company as vice-chairman and president. Over the past year the S&P 500 has gained 58.02% while ESSC is … A high-level overview of East Stone Acquisition Corp. (ESSC) stock. East Stone Acquisition Co. (OTCMKTS:ESSCU) shares traded down 5.1% during mid-day trading on Friday . It focuses on providing technological services to the financial industry in North America and the Asia-Pacific. These risks and uncertainties include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; (2) the outcome of any legal proceedings that may be instituted against the East Stone, JHD or others following announcement of the Business Combination Agreement and the transactions contemplated therein; (3) the inability to complete the transactions contemplated by the Business Combination Agreement or any related financial conditions due to the failure to obtain approval of the shareholders of East Stone; (4) delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the transactions contemplated by the Business Combination Agreement; (5) the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the transactions described herein; (6) the inability to recognize the anticipated benefits of the Business Combination; (7) the ability to obtain or maintain the listing of Pubco’s securities on The Nasdaq Stock Market, following the Business Combination, including having the requisite number of shareholders; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that JHD may be adversely affected by other economic, business, and/or competitive factors; and (11) other risks and uncertainties indicated from time to time in filings with the SEC by East Stone or Pubco. Additionally, Mr. Lu served as the executive vice president of China Shenzhen Stock Exchange, overseeing public company governance and securities offerings from November 2012 to May 2015. East Stone Acquisition Corporation operates as a blank company. The SPAC values the deal at $450 million. East Stone Acquisition Corp. TRADING QUOTES CLICK ON A TAB BELOW: (Business Combination or IPO Details) to access the relevant details. East Stone Acquisition Corporation Xiaoma (Sherman) Lu 25 Mall Road, Suite 330 Burlington, MA 01803 sherman@estonecapital.com. EarlyBird, in particular. As for the particulars of the team, Mr. Lu is a founding partner and has been a managing director of East Stone Capital Limited, a private equity firm focusing on emerging industries, since October 2017. JHD is an online and offline merchant enablement services platform that provides almost 90,000 independent retailers, in five provinces, with a full suite of services and technologies, including Point-of-Sale (POS), supply chain and logistics, and fintech/payment capability. Post-Market 0.00 (0.00%) Per the proxy: Pursuant to our agreement with I-Bankers: So basically, I-Bankers is incentivized to market this hard. ESSCW | Complete East Stone Acquisition Corp. Wt stock news by MarketWatch. Shareholders will also be able to obtain copies of the Registration Statement and the proxy statement/prospectus, without charge, once available, on the SEC’s website at www.sec.gov or by directing a request to East Stone by contacting its Chief Financial Officer, Chunyi (Charlie) Hao, c/o East Stone Acquisition Corporation, 25 Mall Road, Suite 330, Burlington, MA 01803, at (781) 202-9128 or at hao@estonecapital.com. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties. To sum up, in a market where so many SPACs in 2019 debuted with miserly terms for investors, East Stone’s terms look pretty juicy in comparison. However, they’re only participating for 108,000 units. East Stone Acquisition Corporation Announces Business Combination With JHD Holdings (Cayman) Limited. Information about East Stone’s directors and executive officers and their ownership of East Stone’s ordinary shares is set forth in East Stone’s Annual Report on Form 10-K, which was filed with the SEC on September 21, 2020 as modified or supplemented by any Form 3 or Form 4 filed with the SEC since that date. Which also means SPAC teams can negotiate a little harder on the underwriting fees. As such, this deal shouldn’t have much trouble at IPO. View real-time stock prices and stock quotes for a full financial overview. Additionally, whereas 3.5% or 3.0% is more common, I-Bankers has reduced theirs to a 2.75% fee. View the latest East Stone Acquisition Corp. (ESSC) stock price, news, historical charts, analyst ratings and financial information from WSJ. Find the latest East Stone Acquisition Corporat (ESSC) stock discussion in Yahoo Finance's forum. 10% of the Pubco shares to be issued to the selling parties at closing will be subject to an earn-out and escrowed under the terms of the agreement. East Stone Acquisition Corp (ESSC) stock is trading at $10.06 as of 1:15 PM on Tuesday, Dec 29, a loss of -$0.01, or -0.08% from the previous closing price of $10.07. “In JHD we have found a truly exciting company operating in a large, dispersed and underserved addressable market with hundreds of millions of potential customers.”  said Xiaoma “Sherman” Lu, Chief Executive Officer of East Stone. ESSC | Complete East Stone Acquisition Corp. stock news by MarketWatch. These documents can be obtained free of charge from the sources indicated above. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The stock has traded between $10.05 and $10.11 so far today. East Stone Acquisition Corp NASDAQ Updated Feb 24, 2021 11:31 PM. East Stone Acquisition Corporation (Nasdaq: ESSC) is a blank check company incorporated as a British Virgin Islands business company and incorporated for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities. Lastly, Hua Mao and Cheng Zhao, who are listed as advisors to the transaction, are also the “Anchor Investors” and are participating in the private placement of units at IPO. But okay, Anchor Investors it is. Plus, now that SPACs have gotten so hot again, the terms pendulum has swung back to SPAC teams and pretty much anything and everything is selling. East Stone Acquisition Corporation is a blank check company. This press release contains forward-looking statements that involve risks and uncertainties concerning the Business Combination, JHD’s expected financial performance, as well as its strategic and operational plans. Asia Automotive combined with Tongxin International Ltd. (TXIC.PK), and China Fundamental combined with Wowjoint Holdings Ltd. (BWOWF.PK). East Stone Acquisition Corporation does not have significant operations. Share your opinion and gain insight from other stock traders and investors. The stock traded as low as $11.20 and last traded at $11.20. East Stone Acquisition Corporation does not have significant operations. East Stone Acquisition Corporation Unit, also called East Stone Acquisition Units, is a blank check company. Ellenoff Grossman & Schole LLP & Schiff Hardin LLP are issuer’s counsel and underwriter’s counsel, respectively. Files $100M SPAC IPO. The boards of directors for both JHD and East Stone have approved the proposed business combination, which is expected to be completed by the end of third quarter of 2021, subject to, among other things, the approval by East Stone’s shareholders of the business combination, satisfaction of the conditions stated in the definitive agreement and other customary closing conditions, including that the U.S. Securities and Exchange Commission (the “SEC”) completes its review of the proxy statement/prospectus, the receipt of certain regulatory approvals, and approval by The Nasdaq Stock Market to list the securities of the combined company. The company was founded in 2018 and is based in Burlington, Massachusetts. East Stone Acquisition Corporation is a blank check company incorporated in the British Virgin Islands as a business company and formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination … © 2021 GlobeNewswire, Inc. All Rights Reserved. Was screening 13Fs through Whale Wisdom and saw that East Stone Acquisition Corp was one of the most added tickers under 500million. Plus, East Stone has included the Crescent Term with a bump up to a $9.50 threshold, rather than a $9.20 threshold, which is becoming more common as of late for the smaller sized deals. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. East Stone Acquisition Corp. JHD targets lower-tier cities and emerging areas in China, which represent a total population of over 550 million people who spend over $900 billion on food and household items each year, mostly in the over six million independent retailers that service these regions. Looking at Chunyi (Charlie) Hao, the Chairman and CFO of this SPAC, he is also a founding partner and managing director of East Stone Capital Limited, but more importantly, Mr. Hao has previously served on two prior SPACs. Upon closing of the transaction, the combined company will be named JHD Technologies Limited, and seeks to be listed on the Nasdaq Stock Market.
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