案例编号:
CN_2022KJYGSCW_3525
案例名称:
借助SPAC并购,成功境外上市——思享无限赴美上市之路
译名:
A Successful Overseas Listing with the Help of SPAC: The Journey for Scienjoy from China to Nasdaq
中文关键词:
SPAC;境外上市;股权置换;企业合并;思享无限;2022百优
英文关键词:
SPAC; Overseas Listing; Share Exchange; Business Combination; Scienjoy
中文摘要:
直播平台自2016年起呈现出爆发式增长,企业、明星、电商疯狂赶搭直播这班车。在大量资本的注入和催生下,直播行业从风口转向红海,伴随而来的是近百家直播平台的倒闭,用户纷纷流向头部平台。虎牙、映客、斗鱼等陆续上市,掀起了直播行业的上市潮。2020年5月8日,思享无限科技有限公司借助特殊目的并购公司上市方式(Special Purpose Acquisition Company,简称SPAC),成功登录美国纳斯达克,随后布局移动直播全生态,进军海外市场。SPAC上市指实体企业通过完成与已上市的现金壳公司的业务合并,获得上市地位。思享无限为何选择SPAC方式在美上市?思享无限采取了哪些筹备工作以推动SPAC上市的成功?思享无限上市后的表现如何?本案例结合思享无限的成长历程、财务状况以及面临的行业环境,探究思享无限SPAC的动因、过程和结果,分析SPAC上市的优缺点,以期思享无限上市的成功经验能够给相关企业带来借鉴和启示。
英文摘要:
Since 2016, mobile live broadcasting platforms have mushroomed, with enterprises, stars, and e-commerce rushing to this field. With the investment of a large amount of capital, the live broadcasting industry faced a more intense tendency of competition, accompanied by the collapse of nearly 100 live broadcasting platforms, and users chose the head platform. After that, the live broadcast platforms moved to another battlefield. HUYA, INKE and DOYU listed overseas one after another, setting off a wave of live broadcasting industry listing in 2018. The live broadcasting platform shifted from grabbing traffic and anchor to the capital market. On May 8, 2020, with the help of SPAC, Scienjoy successfully listed on Nasdaq and then built the live streaming full ecosystem to enter the overseas market. Why does Scienjoy choose SPAC to list in the US? What preparatory work has Scienjoy taken to promote the success of SPAC? How is Scienjoy’s performance after listing? To answer these questions, this case study analyzes the advantages of SPAC, summarizes the successful experience of Scienjoy SPAC, based on its the growth process, financial situation, and industry environment of Scienjoy, and explores the motivation, process, and result of Scienjoy SPAC.
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