Chi Special Acquisition Corp.

Chi Special Acquisition Corp. is a Delaware corporation established as a blank check company. Its primary purpose is to engage in a business combination, such as a merger, share exchange, asset acquisition, share purchase, recapitalization, or reorganization, with one or more businesses or entities. The company's search for a target business is not restricted to a specific industry or geographic region. Goldenstone Holdings, LLC, controlled by Eddie Ni, is the company's sponsor. On March 21, 2022, Chi Special Acquisition Corp. completed its initial public offering (IPO), selling 5,750,000 units. This total included 750,000 units issued due to the underwriter's full exercise of its over-allotment option. Each unit in the IPO consisted of one share of common stock (par value $0.0001 per share), one redeemable warrant, and one right. Each warrant allows the holder to purchase one-half of one share of common stock for $11.50 per whole share, and each right entitles the holder to 1/10 of one share of common stock. The units were sold at $10.00 per unit, resulting in gross proceeds of $57,500,000 for the company. Concurrently with the IPO closing, the company completed a private placement with the Sponsors and other investors, selling 351,250 private units at $10.00 per private unit, which generated total proceeds of $3,512,500.