Chinese executive-led special purpose acquisition company (SPAC) XFLH Capital (XFLHU.US) filed documents with the U.S. Securities and Exchange Commission (SEC) on Monday, applying for an initial public offering (IPO) to raise up to $60 million. The company plans to issue 6 million shares at $10 per share to raise $60 million.

Each unit consists of one share of common stock and one right, which entitles the holder to receive 1/7 of a share of common stock upon completion of a business combination. The SPAC's core management team is led by Chief Executive Officer and Director Yanzhe Yang, who is also the founder and CEO of Aroui Health Management. Joining him is Chief Financial Officer Tianshi Yang, who previously served as Chief Strategy Officer at SunCar Technology Group (SDA.US) and CFO at TD Holdings.

In terms of investment targets, the SPAC plans to focus on "growth companies" with specific screening criteria including: enterprise valuations between $200 million and $400 million, strong management teams, records of revenue and profit growth, and the ability to generate stable and continuously growing free cash flow.

The company, headquartered in Dover, Delaware, was established in 2025 and plans to list on the NASDAQ Stock Exchange under the ticker symbol XFLHU. Maxim Group LLC serves as the sole book-running manager for this IPO.