---
title: "US IPO Weekly Recap: 1 IPO and 4 SPACs list to close out May"
description: "This week saw one IPO and four SPACs debut. Hong Kong beauty retailer Pitanium (PTNM) priced its IPO at $7 million, ending the week down 5%. Kochav Defense Acquisition (KCHVU) raised $220 million, whi"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/242656156.md"
published_at: "2025-05-30T22:01:20.000Z"
---

# US IPO Weekly Recap: 1 IPO and 4 SPACs list to close out May

> This week saw one IPO and four SPACs debut. Hong Kong beauty retailer Pitanium (PTNM) priced its IPO at $7 million, ending the week down 5%. Kochav Defense Acquisition (KCHVU) raised $220 million, while Jena Acquisition II (JENA.U) raised $200 million. ChampionsGate Acquisition (CHPGU) and Wintergreen Acquisition (WTGUU) raised $65 million and $50 million, respectively. Additionally, one small IPO and four SPACs submitted initial filings, including Magnitude International (MAGH) aiming to raise $10 million.

One IPO and four SPACs debuted this week. One small IPO and four SPACs submitted initial filings.

Hong Kong beauty products retailer **Pitanium** (PTNM) priced its US IPO at the bottom of the range to raise $7 million at a $91 million market cap. The company sells proprietary skincare, personal care, and haircare products under the brands PITANIUM and BIG PI. It sells products through a network of six retail stores in Hong Kong, as well as online. It finished the week down 5%.

**Kochav Defense Acquisition** (KCHVU) raised $220 million to target defense and aerospace. **Jena Acquisition** II (JENA.U), led by SPAC veterans Bill Foley and Richard Massey, raised $200 million. **ChampionsGate Acquisition** (CHPGU), led by SPAC veteran Bala Padmakumar, raised $65 million. **Wintergreen Acquisition** (WTGUU) raised $50 million to target the TMT industry in Asia.

5 IPOs During the Week of May 26th, 2025

Issuer  
*Business*

Deal  
Size

Market Cap  
at IPO

Price vs.  
Midpoint

First Day  
Return

Return  
at 05/30

Jena Acquisition II (JENA.U)

$200M

$252M

0%

+1%

+1%

*Blank check company led by SPAC veterans Bill Foley and Richard Massey.*

ChampionsGate Acquisition (CHPGU)

$65M

$87M

0%

+0%

+0%

*Blank check company led by SPAC veteran Bala Padmakumar.*

Kochav Defense Acq. (KCHVU)

$220M

$298M

0%

+0%

+0%

*Blank check company targeting the defense and aerospace industries.*

Wintergreen Acquisition (WTGUU)

$50M

$65M

0%

+0%

+0%

*Blank check company targeting the TMT industry in Asia.*

Pitanium (PTNM)

$7M

$91M

\-11%

\-5%

\-5%

*Sells branded beauty and consumer products in Hong Kong.*

One small IPO submitted initial filings this week. Singapore-based electrical installation services provider **Magnitude International** (MAGH) filed to raise $10 million at a $158 million market cap.

Four SPACs submitted initial filings this week. **Pioneer Acquisition I** (PACHU) filed to raise $220 million to target healthcare. **Crown Reserve Acquisition** (CRACU), led by entrepreneur Prashant Patel, filed to raise $150 million. **FG Merger III** (FGTHU.RC) filed to raise $150 million to target financial services in North America. **Quantumsphere Acquisition** (QUMSU) filed to raise $60 million to target businesses with growth potential and defensible market positions.

### Related Stocks

- [PTNM.US - Pitanium](https://longbridge.com/en/quote/PTNM.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.