However, they’re only participating for 108,000 units. However, looking at this SPAC’s structure we see a 100% in trust, 15 months (plus two 3-month extensions for $0.10 to trust each), 1 warrant for 1/2 share + 1 right (1/10), which is typical for SPACs searching within Asia. ESSC is down -$0.05 from the previous closing price of $10.16 on volume of 559,080 shares. ESSC | Complete East Stone Acquisition Corp. stock news by MarketWatch. View the latest East Stone Acquisition Corp. (ESSC) stock price, news, historical charts, analyst ratings and financial information from WSJ. WithumSmith+Brown, PC is auditor. Share your opinion and gain insight from other stock traders and investors. East Stone Acquisition Corporation (Nasdaq: ESSC) is a blank check company incorporated as a British Virgin Islands business company and incorporated for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities. The boards of directors for both JHD and East Stone have approved the proposed business combination, which is expected to be completed by the end of third quarter of 2021, subject to, among other things, the approval by East Stone’s shareholders of the business combination, satisfaction of the conditions stated in the definitive agreement and other customary closing conditions, including that the U.S. Securities and Exchange Commission (the “SEC”) completes its review of the proxy statement/prospectus, the receipt of certain regulatory approvals, and approval by The Nasdaq Stock Market to list the securities of the combined company. East Stone Acquisition Corporation Announces Business Combination With JHD Holdings (Cayman) Limited. JHD Technologies Limited, a Cayman Islands exempted company (“Pubco”), intends to file with the Securities and Exchange Commission (the “SEC”), a Registration Statement on Form S-4 (as amended, the “Registration Statement”), which will include a preliminary proxy statement of East Stone Acquisition Corporation, a British Virgin Islands business company (“East Stone”), and a prospectus in connection with the proposed business combination (the “Business Combination”) involving East Stone, JHD Holdings (Cayman) Limited, a Cayman Islands company ( “JHD”), Yellow River MergerCo Limited, a British Virgin Islands company and a wholly-owned subsidiary of Pubco (“Merger Sub”), Navy Sail International Limited, a British Virgin Islands company, in the capacity as the Purchaser Representative, Yellow River (Cayman) Limited, a Cayman Islands company, in the capacity as Primary Seller and Seller Representative, and the other shareholders of JHD who become parties thereto (the “Sellers”) and Double Ventures Holdings Limited, a British Virgin Islands business company (the "Sponsor") pursuant to a business combination agreement (the “Business Combination Agreement”). 10% of the Pubco shares to be issued to the selling parties at closing will be subject to an earn-out and escrowed under the terms of the agreement. It focuses on providing technological services to the financial industry in North America and the Asia-Pacific. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS. It focuses on providing technological services to the financial industry in North America and the Asia-Pacific. ESSCW | Complete East Stone Acquisition Corp. Wt stock news by MarketWatch. We believe the highly fragmented, lower tier economy of China represents one of the biggest potential growth stories of this decade and we are in the middle of it.". PROPOSED BUSINESS COMBINATION: Ufin Holdings Limited ESTIMATED CURRENT FUNDS in TRUST: $138.9 million*CURRENT PER SHARE REDEMPTION PRICE: $10.06*ENTERPRISE VALUE: TBD … Information about East Stone’s directors and executive officers and their ownership of East Stone’s ordinary shares is set forth in East Stone’s Annual Report on Form 10-K, which was filed with the SEC on September 21, 2020 as modified or supplemented by any Form 3 or Form 4 filed with the SEC since that date. It focuses on providing technological services to the financial industry in North America and the Asia-Pacific. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. “In JHD we have found a truly exciting company operating in a large, dispersed and underserved addressable market with hundreds of millions of potential customers.”  said Xiaoma “Sherman” Lu, Chief Executive Officer of East Stone. JHD’s Founder and Chairman of the board, Mr. Clingman will continue leading the company. $1.08 million worth of units on a $100 million SPAC (1%) doesn’t feel so much like an “anchor”, but more like some ankle weights. Although it is not limited to a particular industry or geographic region for purposes of consummating an initial business combination, East Stone believes it is particularly well-positioned to capitalize on growing opportunities created by in the financial technology (fintech) space in North America and Asia-Pacific. The company is based in Burlington, Massachusetts. But okay, Anchor Investors it is. Again, we’re seeing a bifurcation in SPAC terms between the larger A++ teams and the sub $100 million deals. Files $100M SPAC IPO. Asia Automotive combined with Tongxin International Ltd. (TXIC.PK), and China Fundamental combined with Wowjoint Holdings Ltd. (BWOWF.PK). JHD targets lower-tier cities and emerging areas in China, which represent a total population of over 550 million people who spend over $900 billion on food and household items each year, mostly in the over six million independent retailers that service these regions. A high-level overview of East Stone Acquisition Corp. (ESSC) stock. East Stone Acquisition Corporation is a blank check company incorporated in the British Virgin Islands as a business company and formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination … East Stone Acquisition Corporation does not have significant operations. As such, this deal shouldn’t have much trouble at IPO. Find the latest East Stone Acquisition Corporat (ESSC) stock discussion in Yahoo Finance's forum. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. I-Bankers Securities is sole book-runner. The company was founded in 2018 and is based in Burlington, Massachusetts. East Stone Acquisition Co. (OTCMKTS:ESSCU) shares traded down 5.1% during mid-day trading on Friday . East Stone Acquisition Corporation operates as a blank company. Shareholders will also be able to obtain copies of the Registration Statement and the proxy statement/prospectus, without charge, once available, on the SEC’s website at www.sec.gov or by directing a request to East Stone by contacting its Chief Financial Officer, Chunyi (Charlie) Hao, c/o East Stone Acquisition Corporation, 25 Mall Road, Suite 330, Burlington, MA 01803, at (781) 202-9128 or at hao@estonecapital.com. The stock had previously closed at $11.80. These risks and uncertainties could cause actual results or outcomes to differ materially from those indicated by such forward looking-statements. Additional info below. SPAC: ESSC - East Stone Acquisition Corp - All information you need to know about the SPAC: ESSC - East Stone Acquisition Corp Latest Price: $10,04 Previous close: $10,07 Latest Date: 24-2-2021 1,339 shares were traded during trading, a decline of 52% from the average session volume of 2,810 shares. View real-time stock prices and stock quotes for a full financial overview. The stock has traded between $10.05 and $10.11 so far today. These documents can be obtained free of charge from the sources indicated above. China's merchant enablement services platform JHD Holdings (Cayman) announced a deal to go public via a merger with SPAC East Stone Acquisition ( ESSC +0.2%) at about a $1B valuation. East Stone will be focusing on fintech in North American and the Asia Pacific regions, and will be led by Chunyi (Charlie) Hao, as Chairman and CFO, and Xiaoma … EarlyBird, in particular. Plus, now that SPACs have gotten so hot again, the terms pendulum has swung back to SPAC teams and pretty much anything and everything is selling. SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of East Stone Acquisition Corp. (Nasdaq – ESSC) BALA CYNWYD – February 22, 2021 /Access Wire/ – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of East Stone Acquisition Corp. (“East Stone” or the “Company”) […] Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, … ESSC 10.02 0.02 (0.20%). Transaction Summary Overview • East Stone Acquisition Corporation (NASDAQ: ESSC; “ESSC” or “East Stone”) is a special purpose acquisition company … AND…that’s subject to the amount of shareholder redemptions. East Stone Acquisition Corp. East Stone Acquisition Corporation (Nasdaq: ESSC) is a blank check company incorporated as a British Virgin Islands business company and incorporated for … Per the proxy: Pursuant to our agreement with I-Bankers: So basically, I-Bankers is incentivized to market this hard. By supplying the partner stores with reliable and timely delivery of branded consumer products, JHD provides a reliable supply chain to the stores. There can be no assurance that the proposed Business Combination will be completed, nor can there be any assurance, if the Business Combination is completed, that the potential benefits of combining the companies will be realized. This security was issued by East Stone Acquisition Corporation , whose common stock symbol is ESSC . East Stone Acquisition Corporation, a British Virgin Islands business company (“Maker”), promises to pay to the order of Chunyi (Charlie) Hao, or its registered assigns or successors in interest or order (“Payee”), the principal sum of up to Five Hundred Thousand Dollars ($500,000.00) in lawful money of the United States of America, on the terms and conditions described below. East Stone Acquisition Corporation operates as a blank check company. Additionally, whereas 3.5% or 3.0% is more common, I-Bankers has reduced theirs to a 2.75% fee. JHD is an online and offline merchant enablement services platform that provides almost 90,000 independent retailers, in five provinces, with a full suite of services and technologies, including Point-of-Sale (POS), supply chain and logistics, and fintech/payment capability. Was screening 13Fs through Whale Wisdom and saw that East Stone Acquisition Corp was one of the most added tickers under 500million. However, the rest of his background has a number of additional positions in other investment firms focusing on a variety of industries. Mr. Lu, East Stone’s Chief Executive Officer will join the combined company as vice-chairman and president. These risks and uncertainties include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; (2) the outcome of any legal proceedings that may be instituted against the East Stone, JHD or others following announcement of the Business Combination Agreement and the transactions contemplated therein; (3) the inability to complete the transactions contemplated by the Business Combination Agreement or any related financial conditions due to the failure to obtain approval of the shareholders of East Stone; (4) delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the transactions contemplated by the Business Combination Agreement; (5) the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the transactions described herein; (6) the inability to recognize the anticipated benefits of the Business Combination; (7) the ability to obtain or maintain the listing of Pubco’s securities on The Nasdaq Stock Market, following the Business Combination, including having the requisite number of shareholders; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that JHD may be adversely affected by other economic, business, and/or competitive factors; and (11) other risks and uncertainties indicated from time to time in filings with the SEC by East Stone or Pubco. "Following" : … East Stone Acquisition Corp (ESSC) stock is down -0.49% while the S&P 500 is up 0.16% as of 11:11 AM on Wednesday, Jan 13. East Stone Acquisition Corporation does not have significant operations. East Stone Acquisition Corporation operates as a blank check company. But there a number of underwriters who prefer to consider this a “marketing fee”. Ellenoff Grossman & Schole LLP & Schiff Hardin LLP are issuer’s counsel and underwriter’s counsel, respectively. (iii) notwithstanding (i) and (ii) above. The stock traded as low as $11.20 and last traded at $11.20. East Stone Acquisition Corp. (ESSCU), filed for a $100 million IPO this morning, making it a total of seven SPACs on file now for 2020. East Stone Acquisition Corporation Xiaoma (Sherman) Lu 25 Mall Road, Suite 330 Burlington, MA 01803 sherman@estonecapital.com. East Stone Acquisition Corp NASDAQ Updated Feb 24, 2021 11:31 PM. Burlington, MA and Beijing, China, Feb. 18, 2021 (GLOBE NEWSWIRE) -- East Stone Acquisition Corporation (Nasdaq: ESSC) ("East Stone"), a publicly traded special purpose acquisition company (“SPAC”), and JHD Holdings (Cayman) Limited, an innovative merchant enablement services platform in lower-tier cities in China ("JHD" or the "Company"), operating in China under the brand Ji Hui Duo®(“积惠多”),  announced today that they have entered into a definitive business combination agreement. The name of the issuer is East Stone Acquisition Corporation (the " Company "). Looking at Chunyi (Charlie) Hao, the Chairman and CFO of this SPAC, he is also a founding partner and managing director of East Stone Capital Limited, but more importantly, Mr. Hao has previously served on two prior SPACs. Home » Weekly IPO Updates » INTEL » East Stone Acquisition Corp. East Stone Acquisition Corporation Unit, also called East Stone Acquisition Units, is a blank check company. Jan 17, 2020 INTEL by Kristi Marvin. Upon closing of the transaction, the combined company will be named JHD Technologies Limited, and seeks to be listed on the Nasdaq Stock Market. Which also means SPAC teams can negotiate a little harder on the underwriting fees. East Stone Acquisition Corp (ESSC) stock is trading at $10.06 as of 1:15 PM on Tuesday, Dec 29, a loss of -$0.01, or -0.08% from the previous closing price of $10.07. Post-Market 0.00 (0.00%) East Stone Acquisition Corp. (ESSCU), filed for a $100 million IPO this morning, making it a total of seven SPACs on file now for 2020. And while Mr. Hao’s SPAC experience is from roughly a decade ago, it’s still SPAC experience and that counts for something. The company was foun... Company Analysis and Financial Data Status © 2021 SPACInsider | Theme by Theme Ansar, East Stone Acquisition Corp. The SPAC values the deal at $450 million. Files $100M SPAC IPO. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties. Concurrently with the announcement of this transaction, East Stone is terminating its previously announced business combination agreement with Ufin Holdings Limited. To sum up, in a market where so many SPACs in 2019 debuted with miserly terms for investors, East Stone’s terms look pretty juicy in comparison. Some SPACs call this a “deferred fee”, which generally implies more services than just marketing. As such, East Stone’s 1.75% upfront underwriting fee and 2.75% marketing fee could be a harbinger of fee reduction in future SPACs, so it’s something we’ll have to keep an eye on as competition in the underwriting league heats up too. To enable financial inclusion of communities that are significantly underbanked, JHD’s platform has already enabled 3,000 outlets to become licensed rural area financial stations, enabling established banks to extend their branch network to serve more consumers. However, an additional item of note is the underwriter “business combination marketing fees”, which in general, refers to the back-end fee. The terms of the business combination agreement provide that at closing the public company ("Pubco") resulting from the transaction will issue shares to the selling parties with an aggregate value equal to one billion U.S. dollars ($1,000,000,000), subject to adjustments for closing cash, closing debt, and certain excess unpaid expenses. SHAREHOLDERS OF EAST STONE, THE SELLERS AND OTHER INTERESTED PARTIES ARE URGED TO READ, WHEN AVAILABLE, THE PRELIMINARY PROXY STATEMENT, AND AMENDMENTS THERETO, AND THE DEFINITIVE PROXY STATEMENT IN CONNECTION WITH EAST STONE’S SOLICITATION OF PROXIES FOR THE SPECIAL MEETING OF ITS SHAREHOLDERS TO BE HELD TO APPROVE THE BUSINESS COMBINATION BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT EAST STONE, JHD, PUBCO AND THE BUSINESS COMBINATION. East Stone in a filing today said it had reached and agreement with Ufin Tek to merge and form a company to be named Pubco. As with many of the SPACs that came forth around the financial crisis, their share prices fell off a cliff in 2009 and never really recovered (for various reasons, but the financial crisis certainly didn’t help). Additionally, Mr. Lu served as the executive vice president of China Shenzhen Stock Exchange, overseeing public company governance and securities offerings from November 2012 to May 2015. East Stone Acquisition Corp. TRADING QUOTES CLICK ON A TAB BELOW: (Business Combination or IPO Details) to access the relevant details. East Stone will be focusing on fintech in North American and the Asia Pacific regions, and will be led by Chunyi (Charlie) Hao, as Chairman and CFO, and Xiaoma (Sherman) Lu, as CEO and Director nominee. Lastly, Hua Mao and Cheng Zhao, who are listed as advisors to the transaction, are also the “Anchor Investors” and are participating in the private placement of units at IPO. Benzinga Newdesk, Benzinga Staff Writer {{following ? Plus, East Stone has included the Crescent Term with a bump up to a $9.50 threshold, rather than a $9.20 threshold, which is becoming more common as of late for the smaller sized deals. E ast Stone Acquisition, a blank check company formed by East Stone Capital to acquire a fintech business, filed on Friday with the SEC to … Find the latest SEC Filings data for East Stone Acquisition Corporation Warrant (ESSCW) at Nasdaq.com. As for the particulars of the team, Mr. Lu is a founding partner and has been a managing director of East Stone Capital Limited, a private equity firm focusing on emerging industries, since October 2017. Files $100M SPAC IPO. The definitive proxy statement and other relevant documents will be mailed to shareholders of East Stone as of a record date to be established for voting on East Stone’s initial business combination with JHD. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement/prospectus pertaining to the proposed Business Combination when it becomes available. Over the past year the S&P 500 has gained 58.02% while ESSC is … So far 543,411 shares have traded compared to average volume of 52,118 shares. This press release contains forward-looking statements that involve risks and uncertainties concerning the Business Combination, JHD’s expected financial performance, as well as its strategic and operational plans. East Stone Acquisition Corporation is a blank check company. View real-time stock prices and stock quotes for a full financial overview. I checked on SEC.gov as that screen piqued my interest and found an 8-k announcing a merger with Ufin. © 2021 GlobeNewswire, Inc. All Rights Reserved. East Stone Acquisition Corporation does not have significant operations. Volume today is elevated. The firm’s fifty […] The description of the Business Combination contained herein is only a summary and is qualified in its entirety by reference to the definitive agreements relating to the Business Combination, copies of which will be filed by East Stone with the SEC as an exhibit to a Current Report on Form 8-K. East Stone, JHD and Pubco and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of East Stone ordinary shares in respect of the proposed Transaction. The first being 2005’s Asia Automotive Acquisition Corporation, as President and Director, the second was 2008’s China Fundamental Acquisition Corporation, as CEO and Director. Commenting on today’s announcement, JHD’s founder and Chairman, Alan Clingman, said, “In 2016 we started Ji Hui Duo （“积惠多”）with the mission of building a technology driven platform and the accompanying service infrastructure to support financial inclusion in the world’s largest emerging market. The company was founded in 2018 and is based in Burlington, Massachusetts.