AlphaVest Acquisition Corp. Closes US$60M IPO

Winston & Strawn represented AlphaVest Acquisition Corp., a blank check company, in connection with the closing of its IPO of 6,000,000 units at a price of US$10.00 per unit. The units were listed on the Nasdaq Stock Market LLC and began trading under the ticker symbol “ATMV” on December 20, 2022. Each unit consists of one ordinary share and one right, entitling the holder thereof to receive one-tenth of one ordinary share upon consummation of an initial business combination. The offering closed on December 22, 2022, subject to customary closing conditions. While AlphaVest will not be limited to a particular industry or geographic region in its identification and acquisition of a target company, they intend to focus its search on businesses throughout Asia.