Benzinga | Mar 1, 2021 07:43AM EST

Lion Group Holding Subsidiary Lion Wealth Management Limited Will Cooperate With Constant Epoch Technology Development Limited And Ruoxi Ltd. To Form A SPAC, Skyline I Acquisition Corp

HONG KONG, March 1, 2021 /PRNewswire/ -- Lion Group Holding Ltd. ("Lion" or "the Company") (NASDAQ:LGHL), operator of an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors, today announced that one of its subsidiaries, Lion Wealth Management Limited, will cooperate with Constant Epoch Technology Development Limited ("Constant Epoch), an investment and R&D company focusing on innovative technology sector, and Ruoxi Ltd. ("Ruoxi"), a company holding various investments in internet, technology, finance, healthcare and other industries, to form a SPAC company -- Skyline I Acquisition Corp.

Constant Epoch is an investment and R&D company, founded by senior technology innovation professionals and investment bankers who are focused on innovative, growth-oriented technology enterprises in the United States and Asia. Ruoxi is an investment holding company and was founded by the former co-founder of Meituan, Mr. Jun Yang. Mr. Jun Yang has participated in the founding of many well-known Internet companies such as Renren and Fanfou.

"This SPAC sponsorship represents a great opportunity for Lion to cooperate with Constant Epoch and Ruoxi, two highly reputable companies with a track record of successful investments," Mr. Chunning (Wilson) Wang, Chief Executive Officer of Lion, commented. "Having gone public via a SPAC vehicle, Lion has an extensive understanding of SPAC transactions, which compliments the background, experience, resources and connections that Constant Epoch and Ruoxi collectively have in the technology investment field. With these advantages, I believe we are able to identify a high-quality acquisition target for the SPAC and further consolidate Lion's value in the capital market."

Mr. Wilson (Chunning) Wang, CEO of Lion, will be the CEO and Director of Skyline I Acquisition. Mr. Yipeng Huang, co-founder and CFO of Constant Epoch, will serve as a Director of Skyline I Acquisition. Mr. Jun Yang, founder and board chairman of Ruoxi, will also serve as a Director of Skyline I Acquisition.

Maxim Group LLC and Loeb & Loeb LLP are acting as the underwriter and attorney for this transaction, respectively.