We are a blank check company incorporated under the laws of the Cayman Islands as an exempted company with limited liability for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or assets, which we refer to throughout this prospectus as our initial business combination. We have generated no revenues to date and we do not expect that we will generate operating revenues at the earliest until we consummate our initial business combination. We have not selected any potential business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any potential business combination target with respect to an initial business combination with us. We may pursue an acquisition or a business combination with a target in any business or industry that can benefit from the expertise and capabilities of our management team. --- Black Spade Capital Limited (“Black Spade Capital”) is the private investment arm of Mr. Lawrence Ho and an affiliate of our sponsor. Mr. Ho is a visionary entrepreneur and a globally recognized leader within the leisure and entertainment industry. Mr. Ho has been the chairman and chief executive officer of Melco International Development Limited. --- Our potential targets may exhibit a broad range of business models and financial characteristics that range from very high growth innovative companies to more mature businesses with established recurring revenues and strong cash flows. While we may pursue a business combination in any industry, we believe that the entertainment, lifestyle and technology industries, particularly those that are major beneficiaries of artificial intelligence (“AI”), provide ample business combination opportunities. We plan to also look at companies that are involved in the provision of AI biotechnology or AI infrastructure and services. Within these industries, we expect to initially focus on the following sectors (our “Target Sectors”): • Enabling Technology: The landscape in the technology industry is dynamic and rapidly evolving as new means of innovation, consumption and delivery continue to generate opportunities for monetization. According to Gartner, the global IT spending is expected to reach over $8 trillion before the end of the decade. Artificial intelligence (such as generative AI, AI biotechnology, AI infrastructure and AIaaS), blockchain, semiconductor, virtual reality, augmented reality, de-carbonization, robotics and cybersecurity, are driving innovation at rapid speed. We believe a growing appetite for technology from consumers, alongside continued technological advancements, will continue to allow innovative technologies, contents and business models to emerge and pioneer across industries, presenting excellent opportunities for our management team. • Lifestyle Brands, Products and Services: The lifestyle segment is composed of many verticals, including beauty and cosmetics, luxury apparel, medical and wellness, and travel. Lifestyle brands engage customers with unique product, experience and aspiration, often with a singular image, strong philosophy and unique style. Consumers are increasingly connecting to brands through e-commerce, digital content, online communities and influencer-driven recommendations. The Millennial and Generation Z demographic groups, in particular, often live in a highly connected and digital world, spending their time interacting through different mediums, and respond to brands in which these interactions build an emotional connection. Some traditional players are undergoing omni-channel transformation, while others could benefit from innovative ways for consumers to connect and to experience their brand. The personal goods market has likely reached €362 billion, in terms of spending, in 2023, according to Bain & Company, and it is predicted that the global wellness market will reach $1.8 trillion in 2024, according to McKinsey & Company. We intend to pursue companies that offer differentiated experiences based on high quality and premium product offerings across different channels. • Entertainment Media: The entertainment media space is composed of many verticals, including sports, online and mobile games, social media, decentralized community and alternative media platform, live events and shows. There has been significant disruption and change in the types of entertainment media products and services consumers need and the form in which they are packaged and delivered in recent years. According to Statista, global entertainment & media market revenue is expected to reach $2.8 trillion by the end of 2027. We believe that this sub-segment is poised for continuous change, growth and opportunities as new entrants seek to accelerate growth and legacy businesses by adapting their historically strong brands to evolving consumer preferences. We intend to pursue companies that we believe possess distinguished competitiveness in content and means of engagement or delivery. Our executive offices are located at Suite 2902, 29/F, The Centrium, 60 Wyndham Street, Central, Hong Kong.
