Ribbon Acquisition Corp. Plans $50 Million IPO for January 15th (RIBBU)

Ribbon Acquisition Corp. (RIBBU) plans to raise $50 million in an initial public offering (IPO) on Wednesday, January 15th, IPO Scoop reports. The company will issue 5,000,000 shares at a price of $10.00 per share.

Ribbon Acquisition Corp. has a market cap of $70.5 million.

A.G.P. served as the underwriter for the IPO.

Ribbon Acquisition Corp. provided the following description of their company for its IPO: “(Incorporated in Japan) We are a new blank check company. Angshuman (Bubai) Ghosh is our CEO and the chairman of the board of directors. He has over 27 years of experience in financial and consulting services and more than 19 years of experience in international business coordination, responsible for operations management, IT integration project management and HR management. Previously, Mr. Ghosh worked at Goldman Sachs (Japan) Ltd from 1997 to 2003 and Lehman Brothers Japan INC from 2003 to 2005. He founded KG Partners Ltd in 2017 and is presently its chairman.  Anna (Zhiyang) Zhou is our CFO. She has over a decade of experience in the financial services industry, including working on initial public offerings and listings. Ms. Zhou previously worked at China Orient Asset Management (Intl) Holding Ltd., BOCOM(International) and Anbang Asset Management. From 2017 to 2021, she worked as a research analyst at Great Wall Asset Management and Mighty Divine Asset Management. From 2021 to 2024, Ms. Zhou was the chief financial officer of the Chenghe Group Ltd, where she also worked on asset management and financial advisory services. She previously acted as chief financial officer, chief executive officer and director of three SPACs that listed on a U.S. stock exchange. The sponsor is Ribbon Investment Company, where Ghosh is a director. (Note: Ribbon Acquisition filed an F-1/A dated Jan. 8, 2025, in which it changed the structure of the right that is part of its unit: The unit now consists of one right to receive one-seventh of a share of common stock – an increase in portion from the original portion of one-ninth of a share of common stock – upon completion of the initial business combination. The unit’s stock portion remains the same, consisting of one Class A ordinary share of common stock, according to the amended prospectus.) (Note: Ribbon Acquisition disclosed the terms for its SPAC IPO in an F-1 filing date Aug. 28, 2024: The company is offering 5.0 million units at $10.00 each to raise $50.0 million. Each unit consists of one Class A ordinary share of common stock and one right to receive one-ninth of a share of common stock upon completion of the initial business combination.)   “.

Ribbon Acquisition Corp. was founded in 2024 and has 0 employees. The company is located at Central Park Tower LaTour Shinjuku Room 3001 6-15-1 Nishi Shinjuku, Shinjuku-ku Tokyo 160-0023 Japan and can be reached via phone at +81 9085083462.