This is a Special Purpose Acquisition Company (SPAC), also called a blank check company, that raised $200M in its March 2022 IPO to merge with a private company in Asia (excluding China, Hong Kong, and Macau) focused on either life sciences or sustainable technology. SPACs have no operations — they hold IPO proceeds in a trust account and use that capital to complete a merger with a private company, thereby taking it public. The SPAC has not identified a definitive acquisition target, though it has entered into a non-binding letter of intent with a potential target. The SPAC's target size range is an enterprise value of $200M to $1B, focusing on life sciences (biopharma, precision medicine, digital health) and sustainable technology (clean energy, industrial IoT, sustainable agriculture). The management team has backgrounds in Korean private equity, sustainable technology investment banking, and life sciences consulting, and sources deals through three affiliated partners in South Korea and Japan. The SPAC has gone through a prolonged search well beyond its original timeline — shareholders have voted three times to extend the deadline, most recently to March 2027, and significant redemptions at each extension vote have reduced the trust from ~$227M to ~$23M. The SPAC was delisted from Nasdaq in March 2025 for failing to complete a deal within 36 months of its IPO, and its securities now trade on the OTC Pink market.