Chardan 2008 China Acquisition Corp. Prices $55 Million IPO on Nasdaq (The First Ever) to Target Chinese Company Acquisitions

On August 12, 2008, Chardan Capital Markets has priced its fourth SPAC on the Nasdaq, selling 6,875,000 units at $8.00 each which will trade under the ticker symbol CACAU. This is the first SPAC in history to be filed on, then priced initially on the Nasdaq.

As mentioned previously, Kerry Propper, the owner and chief executive officer of Chardan Capital Markets LLC (formerly known as Gramercy Group), a New York based broker-dealer, has helmed three other SPACS thus far, raising nearly $100 million since his first $25 million SPAC in 2004, Chardan China Acquisition Corp.

This was followed by two SPACs with acquisition territories divided by the Yangtze River priced on the same day in May 2005, Chardan South China Acquisition Corp and Chardan North China Acquisition Corp.

The company will have to effect a business combination within 18 months after the IPO (or within 30 months from the consummation of the IPO if a letter of intent, agreement in principle or definitive agreement has been executed).

Click here for the final prospectus