Artificial intelligence SPAC Goldenbridge Acquisition files for a $50 million IPO

Goldenbridge Acquisition, a blank check company targeting the artificial intelligence industry, filed on Tuesday with the SEC to raise up to $50 million in an initial public offering. The Hong Kong-based company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock; one warrant for one-half of a share, exercisable at $11.50; and one right to receive one-tenth of a share upon completion of the initial business combination. At the proposed deal size, Goldenbridge Acquisition would command a market value of $65 million. The company is led by CEO and Chairman Yongsheng Liu, former CEO of Royal China Holdings, and COO Ray Chen, former CEO of Fortissimo Film International.