A Paradise III Acquisition filed for an initial public offering.
The special-purpose acquisition company plans to offer 10 million units for $10 apiece, where each unit consists of a share and one right that entitles the holder to receive a fourth of a share once the company acquires a business.
The company plans to look for an acquisition target in the leisure and entertainment sector.
A Paradise III is led by Claudius Tsang, who has led several other special-purpose acquisition companies. One of his SPACs bought Multimetaverse, an animation and entertainment company based in China.
A Paradise III plans to trade shares on the New York Stock Exchange under the ticker APCD.
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