Gravity Acquisition Corp.

S-1/A amended

Price $7.50 · 25,000,000 shares

S-1/A amended

Price $7.50 · 25,000,000 shares · Gross proceeds $187,500,000

Gravity Acquisition Corp. is a Cayman Islands blank check company aiming to merge with or acquire a target business, with a focus on avoiding targets using variable interest entity (VIE) structures due to Chinese regulatory restrictions. The filing highlights risks related to Chinese regulatory approvals, potential PCAOB inspection issues for auditors, and the lack of a public market for shares. The company plans to list units on Nasdaq but faces uncertainties around listing requirements and business combination timelines.

S-1/A amended

Price $7.50 · 25,000,000 shares · Gross proceeds $187,500,000

Gravity Acquisition Corp. is a Cayman Islands blank check company preparing for an IPO to raise $250 million, aiming to complete an initial business combination. The filing highlights structural safeguards like a U.S.-based trust account, restrictions on targets with uninspectable auditors, and shareholder redemption rights. However, it emphasizes risks related to Chinese regulatory scrutiny, potential CFIUS designation, and challenges in merging with PRC-based companies due to compliance requirements and geopolitical factors.

S-1 filed

Price $10.00 · 25,000,000 shares · Gross proceeds $250,000,000

Gravity Acquisition Corp. is a Cayman Islands blank check company seeking to merge with or acquire a target business, with a focus on potential opportunities in China. The filing outlines risks related to regulatory approvals, including potential delays or rejections by the Chinese Securities Regulatory Commission (CSRC) and U.S. PCAOB inspection restrictions for Chinese-based auditors. The company has no operations and will use proceeds from this offering to identify and consummate a business combination. Key details include founder share distributions, underwriter compensation, and uncertainties around Nasdaq listing requirements.

DRS/A amended

Gravity Acquisition Corp. is conducting an IPO with underwriters obligated to purchase units at specified prices, subject to adjustments. The offering includes a 45-day over-allotment option for additional units. Founder shares and private units are subject to lock-up periods, with founder shares releasing after specific price thresholds. The company plans to list units on Nasdaq under GVACU, with ordinary shares and rights under GVAC and GVACR. Underwriting discounts and fees are outlined, including a 0.5% discount and 4% in shares. The underwriters may engage in short sales and stabilizing transactions. A 'Tail' provision ensures underwriter fees for future financings if the IPO isn't completed. The company grants Maxim a right of first refusal for future offerings.

DRS filed

Gravity Acquisition Corp. is conducting a direct registration statement (DRS) for its initial public offering (IPO), with units offered at an initial price determined through negotiations with underwriters. The underwriters have an over-allotment option to purchase additional units, and the company has imposed transfer restrictions (lock-up periods) on founder shares and private units. The offering includes compensation for underwriters through discounts and shares, with potential regulatory and market risks outlined. The company plans to list units on Nasdaq under the symbol GVACU, with ordinary shares and rights expected to follow.