Chinese executive-led SPAC XFLH Capital (XFLHU.US) applies for US IPO, planning to raise $60 million.

The China-led special purpose acquisition company (SPAC) XFLH Capital (XFLHU.US) submitted a filing with the U.S. Securities and Exchange Commission (SEC) on Monday, applying to raise up to $60 million through an initial public offering (IPO). The company plans to issue 6 million shares at a price of $10 per share to raise $60 million. Each unit of stock includes one common share and one right which entitles the holder to receive 1/7 of a common share after a business combination is completed. The core management team of this SPAC is led by CEO and Director Yanzhe Yang, who is also the founder and CEO of Aroui Health Management. Also serving on the team is CFO Tianshi Yang, who previously served as Chief Strategic Officer of SunCar Technology Group and CFO of TD Holdings. In terms of investment focus, the SPAC plans to target "growth companies" with specific screening criteria including: enterprise valuations between $200 million and $400 million, a strong management team, a track record of revenue and profit growth, and the ability to generate stable and sustainable free cash flow. This company, headquartered in Dover, Delaware, was founded in 2025 and plans to list on the Nasdaq Stock Exchange under the ticker symbol XFLHU. The exclusive bookrunner for this IPO is Maxim Group LLC.