LIV Capital Acquisition Corp is a special purpose acquisition company (SPAC) organized as a Delaware corporation. The company was formed to raise capital through an initial public offering (IPO) and to use the proceeds, together with any additional funds raised, to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
As a blank-check vehicle, LIV Capital Acquisition has no commercial operations, revenues or assets other than cash held in trust. The company’s sole business objective is identifying and completing an acquisition of one or more target companies. Upon completion of a qualifying business combination, the company will cease to be a SPAC and assume the operations of the acquired business.
LIV Capital Acquisition is sponsored by investment professionals with backgrounds in corporate finance, transactional advisory and private equity. The management team is responsible for sourcing acquisition opportunities, conducting due diligence and negotiating deal terms. The sponsor has committed a portion of its capital to cover certain organizational and offering expenses, aligning their interests with public shareholders.
The company’s units, consisting of one share of common stock and a fraction of a warrant, trade on the OTC Markets under the ticker symbol LIVKU. Funds raised in the IPO are held in a trust account and may be applied toward the costs of any proposed business combination, subject to shareholder approval. Until a business combination is completed, the company will generally invest trust proceeds in interest-bearing instruments.
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