MNBS Acquisition, a newly formed blank check company targeting cross-border businesses across North America, Europe and Asia, has filed with the U.S. Securities and Exchange Commission to raise up to $75 million through an initial public offering. The SPAC plans to offer 7.5 million units at $10 each and will seek businesses with proven operating models across its three target regions.

Company Background

MNBS Acquisition is a special purpose acquisition company, or SPAC, established to raise capital through an IPO and pursue a future merger, acquisition or similar business combination.

The company plans to focus on cross-border businesses operating in North America, Europe and Asia. Its stated target profile consists of companies with proven business models, giving the SPAC a broad geographic mandate rather than limiting its search to a single industry.

MNBS Acquisition is led by CEO and Director Iris Zhao, who serves as CIO of Future FinTech Group. Zhao has prior SPAC experience and concurrently serves as CEO of Gravity Acquisition. She also previously served as COO of Mars Acquisition through its 2025 merger with ScanTech AI Systems.

CFO and Director Shihao Liu is the Executive Director of Cornerstone Financial Holdings, while Chairman Mingjie Zhao is Chairman of Shineco.

IPO Details

MNBS Acquisition plans to raise $75 million by offering 7.5 million units at $10 per unit.

Each unit consists of one share of common stock, one whole warrant to purchase a share and one-seventh of a right to receive a share at the time of the business combination. The warrants will be exercisable at $11.50 per share.

The company plans to list on the Nasdaq under the symbol MNBSU. Maxim Group LLC is serving as the sole bookrunner for the offering.

MNBS Acquisition is based in Rosemead, California, was founded in 2026 and filed confidentially with the SEC on May 26, 2026.

Market Context & Opportunities

MNBS Acquisition’s cross-border mandate gives management the ability to evaluate potential targets across three major geographic markets. By focusing on companies with proven business models, the SPAC intends to identify businesses that already have established operations rather than focusing exclusively on early-stage opportunities.

The geographic scope could provide access to companies operating across international markets and potentially create opportunities involving cross-border expansion or strategic combinations.

However, the filing information provided does not identify a specific target company, valuation range or transaction timetable.

Risks & Challenges

As a newly formed SPAC, MNBS Acquisition does not currently have an identified operating target. Investors therefore cannot yet evaluate the financial performance, valuation or operating prospects of the eventual business combination.

The company’s broad geographic mandate also exposes a future transaction to differences across North American, European and Asian markets, although the supplied filing does not identify specific regulatory or operational risks.

The proposed warrants and rights could also affect the company’s future capital structure and share count if exercised or converted following a completed business combination.

Closing Paragraph

MNBS Acquisition is seeking $75 million through a Nasdaq IPO as it begins its search for a cross-border business with a proven model in North America, Europe or Asia. Led by a management team with prior SPAC and investment experience, the company will next need to identify a suitable target and negotiate the terms of any eventual business combination.