CCAC
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DESCRIPTION

CCIS Acquisition Corp is a blank check SPAC incorporated in the Cayman Islands with no operations, revenues, or products. CCIS raised $60M in its IPO at $10.00/unit, with proceeds held in trust, and its sole purpose is to identify and acquire a private business to bring public via a De-SPAC transaction. CCIS targets middle-market companies with enterprise values between $200M and $400M, with no formal industry or geographic constraint — though in practice, the management team's ties to China make a China- or Hong Kong-based target the most likely outcome. The sponsor, Future Service Management Corp (controlled by Meile Xia), acquired founder shares at a nominal price of roughly $0.02/share and private placement units at $10.00/unit, creating a strong incentive to close any deal, since those shares are worthless if no deal is done within 15 months (extendable to 21 months). Public shareholders can redeem shares at approximately $10.00/share at deal closing or liquidation. All five officers and directors are Chinese citizens residing in China, which limits the effective target pool and introduces risks around PRC regulatory intervention, VIE structures, foreign exchange controls, and PCAOB audit inspectability requirements for any China-based acquisition target.

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