Hambrecht Asia Acquisition completes $32 million IPO of 4 million units
Hambrecht Asia Acquisition Corp. closed its initial public offering of 4,000,000 units on March 12, 2008, at $8.00 per unit for gross proceeds of $32 million. The company had not begun operations or generated revenue, and its net offering and private placement proceeds of $31.68 million are held in a trust account until a business combination, with primarily China-based operations as its target, or liquidation.
Key points
- IPO of 4,000,000 units consummated March 12, 2008 at $8.00 per unit, for gross proceeds of $32 million
- Each unit includes one ordinary share and one warrant exercisable at $5.00 per share
- Private placement of 1,550,000 warrants to founding stockholders at $1.00 per warrant, for $1.55 million
- Net proceeds of $31.68 million held in trust; if no business combination is completed within 24 months, funds go to public shareholders on dissolution
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 19, 2008.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.