Serial SPAC-trepreneurs at Chardan Capital Markets File Their Fourth on Nasdaq: Chardan 2008 China Acquisition Corp

Li Zhang and the Propper family continue their SPAC dynasty with their fourth SPAC, Chardan 2008 China Acquisition Corp, a $55 million IPO filed July 30, 2008. This SPAC is notable because it is one of the first to be filed on Nasdaq.

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.

In November 2005, Chardan China Acquisition Corp. completed its business combination with State Harvest Holdings Ltd. and changed its name to Origin Agritech Limited (Nasdaq: SEED).

Chardan North China Acquisition Corporation announced in late 2007 that its shareholders approved the acquisition of a controlling interest in Beijing HollySys Company and Hangzhou HollySys Automation Company. Chardan South China Acquisition Corp filed to liquidate following an unsuccessful bid to complete its acquisition of Liaoning GaoKe Energy Group.

Click here for the Chardan 2008 China Acquisition Corp filing