Quasaredge acquisition files $100M blank check IPO

Quasaredge acquisition files $100M blank check IPO

GalaxyEdge Acquisition, a special purpose acquisition company (SPAC) backed by a Chinese sponsor, has priced a $100 million initial public offering (IPO) in the U.S., raising funds through the sale of 10 million units at $10 per unit. Each unit includes one share of common stock and a fractional right to receive additional shares upon completing a merger with a target company. The SPAC previously sought $60 million in October 2024 but increased the offering size in January 2025 to reflect stronger investor demand.

Led by Chairman, CEO, and CFO Ping Zhang—formerly of Green Leaf Air Freight and with prior experience in China’s advertising sector—GalaxyEdge aims to identify businesses in large, underpenetrated markets with favorable industry dynamics and defensible competitive advantages. The SPAC’s management previously oversaw Quantumsphere Acquisition (QUMS), which raised $72 million in 2025 and remains pending a merger with Singapore-based online gaming platform SACH.

GalaxyEdge plans to list its units on the New York Stock Exchange under the symbol GLEDU. Kingswood Capital Markets served as the sole underwriter for the transaction. The offering reflects ongoing SPAC activity in pursuit of long-term growth opportunities, though market conditions and regulatory scrutiny continue to shape the sector’s trajectory.

Renaissance Capital, SPAC GalaxyEdge Acquisition prices $100 million US IPO.