Greencity Acquisition Corporation
GRCY
NASDAQ Capital Market11.20
USD
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Greencity Acquisition Corporation
GRCY
(NASDAQ Capital Market)
Recent
price
11.20
P/E
ratio
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div
yld
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ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Greencity Acquisition Corporation (NASDAQ: GRCY) is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses; it targets sectors including Internet and high technology, financial technology, logistics, clean energy, health care, consumer and retail, energy and resources, food processing, manufacturing, and education primarily in Asian markets. The company provides no current products or services beyond its SPAC structure, which facilitates public market access for target companies through its $40 million initial public offering completed in July 2020, with units comprising one ordinary share and one-half warrant exercisable at $11.50 per full share. Founded in 2018 and headquartered at 505 Eshan Road, Floor 6, Pudong New District, Shanghai, China, Greencity operates with a focus on Asian middle-market opportunities and maintains geographic emphasis on China and broader Asia. Recent developments include multiple deadline extensions for its initial business combination, the latest to April 2023, alongside a non-binding letter of intent signed in April 2023 with Shanghai-based Bopai Construction Technology for a potential merger involving 3D architectural printing technologies, though no definitive agreement or completion has been announced; the company faced Nasdaq delisting notices in 2023 for late filings and compliance issues, with its trust diminished to approximately $6.5 million due to redemptions. As of late 2025, Greencity remains in the pre-deal searching phase without a completed transaction, conducting operations from its Cayman Islands incorporation base while sponsor Cynthia Management Corporation supports ongoing extensions.
Greencity Acquisition Corporation Announces to Extend Deadline to Consummate Business Combination