Chenghe Acquisition Ii CO
Market Movers (8-K)
Chenghe Acquisition II Co. has entered into a Prepaid Share Forward Agreement with Harraden Circle Investors to support its business combination with Polibeli Group Ltd. by mitigating potential share redemptions.
Capital raise
Chenghe Acquisition II Co. (SPAC) shareholders have approved the business combination with Polibeli Group Ltd., with the merger expected to close on June 6, 2025, despite a significant number of share redemptions.
Worse than expected
Chenghe Acquisition II Co. filed its Form 10-Q for the quarter ended March 31, 2025, while progressing towards a business combination with Polibeli Group Ltd.
Chenghe Acquisition II Co. has postponed its extraordinary general meeting of shareholders due to a delay in the SEC declaring effective a post-effective amendment related to its proposed business combination with Polibeli Group Ltd.
Delay expected
Chenghe Acquisition II Co. reports the resignation of its CEO and the appointment of a new CEO and director, effective January 28, 2025.
Chenghe Acquisition II Co. has entered into a definitive agreement to merge with Polibeli Group Ltd, creating a new entity listed on the NYSE American.
Capital raise
Quarterly Earnings (10-Q)
Chenghe Acquisition II Co. reports a net income for the first quarter of 2025, driven by interest income from its Trust Account, while continuing to pursue its business combination with Polibeli Group Ltd.
Better than expected
Chenghe Acquisition II Co. reported a net loss of $1.65 million for the period from January 15, 2024, to September 30, 2024, as it continues to pursue a business combination.
Worse than expected
Capital raise
Chenghe Acquisition II Co., a blank check company, reported a net loss of $193,652 for the three months ended June 30, 2024, following its initial public offering.
Capital raise
Chenghe Acquisition II Co., a blank check company, reported a net loss of $96,056 for the period from its inception on January 15, 2024, through March 31, 2024, prior to its IPO.
Capital raise
Annual Reports (10-K)
Chenghe Acquisition II Co.'s 10-K filing reveals a net loss and working capital deficit, raising concerns about its ability to continue as a going concern while it seeks a business combination with Polibeli Group Ltd.
Worse than expected
Insider Trading (Form 4)
Polibeli Group Ltd, a leading digital supply chain services platform, and Chenghe Acquisition II Co., a SPAC, have announced a potential business combination aimed at creating a publicly traded entity focused on expanding digital procurement and distribution services across Asia and Europe.
Capital raise
425: Chenghe Acquisition II Shareholders Approve Polibeli Group Merger Amidst Significant Redemptions
Chenghe Acquisition II Co. shareholders have approved the business combination with Polibeli Group Ltd, paving the way for the merger, though a substantial number of shares were redeemed.
Worse than expected
B2B e-commerce platform Polibeli is set to go public via a SPAC merger with Chenghe Acquisition II Co., targeting expansion in Asian markets.
425: Chenghe Acquisition II Co. Files Quarterly Report, Net Income Rises Amid Business Combination Plans
Chenghe Acquisition II Co. reports a net income of $226,423 for the quarter ended March 31, 2025, while progressing with its business combination agreement with Polibeli Group Ltd.
Worse than expected
425: Chenghe Acquisition II Co. Announces \$3.6 Billion Business Combination with Polibeli Group Ltd
Chenghe Acquisition II Co. (CHEB) has entered into a definitive business combination agreement with Polibeli Group Ltd, valuing the company at \$3.6 billion, to create a publicly listed entity.
Capital raise
Proxy Statements (Def-14A)
Chenghe Acquisition II Co. reports a net income for the first quarter of 2025 while progressing with its proposed business combination with Polibeli Group Ltd.
Worse than expected
Chenghe Acquisition II Co. has postponed its extraordinary general meeting of shareholders due to a delay in the SEC declaring effective a post-effective amendment related to its proposed business combination with Polibeli Group Ltd.
Delay expected
Worse than expected
New Public Companies (S-1)
Chenghe Acquisition II Co. updates its S-1 registration for a $75 million IPO, aiming to target growing companies in Asian markets.
Capital raise
Chenghe Acquisition II Co., a blank check company, aims to raise $75 million through an IPO to pursue business combinations with growing companies in Asian markets or global companies with an Asian focus.
Capital raise
Schedule 13G - Passive Investments
Karpus Management, Inc. has reported a complete divestment of its beneficial ownership in Chenghe Acquisition II Co., holding 0% of common shares.
Worse than expected
Wolverine Asset Management LLC and affiliated entities report 0% beneficial ownership in Chenghe Acquisition II Co. Class A ordinary shares.
First Trust Capital Management and related entities have filed an amended Schedule 13G, reporting a 0.31% beneficial ownership stake in Chenghe Acquisition II Co.'s Class A Ordinary Shares.
AQR Capital Management and its affiliates have fully divested their beneficial ownership in Chenghe Acquisition II Co.'s Class A Ordinary Shares, now holding 0%.
Worse than expected
The Goldman Sachs Group, Inc. and its subsidiary Goldman Sachs & Co. LLC have disclosed a 3.1% passive beneficial ownership stake in Chenghe Acquisition II Co.'s Class A ordinary shares.
A group of Harraden Circle investment entities and Frederick V. Fortmiller, Jr. have disclosed a collective beneficial ownership of 33.57% in Chenghe Acquisition II Co.'s Class A Common Stock.