White Pearl Acquisition Doubles IPO Size to $100 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: renaissancecapital
- IPO Size Doubling: White Pearl Acquisition has increased its upcoming IPO size from the initially planned $50 million to $100 million by offering 10 million units at $10 each, significantly enhancing its fundraising capability to support future acquisition strategies.
- Innovative Unit Structure: Each unit consists of one share of common stock and a right to receive one-fifth of a share upon the completion of an initial business combination, a structure designed to attract more investors and enhance market competitiveness.
- Experienced Leadership: The company is led by CEO and Chairman Naphat Sirimongkolkasem, who co-founded Collis Capital and served as CFO of Blue Safari Group Acquisition until its merger with Bitdeer Technologies Group in 2023, bringing valuable blank check company experience that is expected to instill confidence in the IPO.
- Clear Market Focus: White Pearl Acquisition targets businesses in the fintech, infotech, and business services sectors, planning to list on the NYSE under the ticker WPACU, demonstrating its strategic focus on rapidly growing industries.
Analyst Views on BTDR
Wall Street analysts forecast BTDR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BTDR is 32.18 USD with a low forecast of 25.00 USD and a high forecast of 40.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
11 Buy
0 Hold
0 Sell
Strong Buy
Current: 15.260
Low
25.00
Averages
32.18
High
40.00
Current: 15.260
Low
25.00
Averages
32.18
High
40.00
About BTDR
Bitdeer Technologies Group is a technology company for blockchain. It provides computing solutions for customers. The Company handles processes involved in computing, such as equipment procurement, transport logistics, datacenter design and construction, and equipment management. It primarily operates three business lines, namely self-mining, hash rate sharing, and hosting. Self-mining refers to cryptocurrency mining for its own account, which allows it to directly capture the high appreciation potential of cryptocurrency. It offers two types of hash rate sharing solutions, namely Cloud Hash Rate and Hash Rate Marketplace. Through Cloud Hash Rate, the Company sells its hash rate to customers. It offers hash rate subscription plans at a fixed price and shares mining income with them under certain arrangements. Its hosting services offer customers one-stop mining rig hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
