Company: NBRG
Filing Date: 2025-11-18
Form Type: POS AM
Source: 0001213900-25-112080
Chunk: 198

Company: Newbridge Acquisition Ltd
Filing Date: 2025-11-18
Form: POS AM
Chunk 198
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 independent director of GBRG from August 2020 to May 2023. GBRG consummated it initial public offering in March 2021, generating proceeds of $57.5 million. GBRG merged with SunCar Technology Group Inc. (Nasdaq: SDA) (“SunCar”) in a business combination in May 2023. Approximately 98% of public shares of GBRG were redeemed in connection with the business combination. The closing price of SunCar’s ordinary shares on Nasdaq on September22, 2025 was $2.53 per share. Wealthbridge Acquisition Limited (HHHH):Our Chief Executive Officer, Yongsheng Liu served as the chief executive officer of HHHH from June 2018 to May 2020; our Chief Financial Officer, Zhen Li served as HHHH’s board secretary from March 2019 to May 2020; our director, Jining Li served as a director of HHHH from June 2018 to May 2020; and one of our independent director, Russelle Kinpui Choi, served as an independent director of HHHH from June 2018 to May 2020. HHHH consummated it initial public offering in February 2019, generating proceeds of $57.5 million. HHHH merged with Scienjoy Holding Corp. (Nasdaq: SJ) (“Scienjoy”) in a business combination in May 2020. Approximately 93% of public shares of HHHH were redeemed in connection with the business combination. The closing price of Scienjoy’s ordinary shares on Nasdaq on September22, 2025 was $0.6575 per share. In recent years, a number of target businesses have underperformed financially post -businesscombination with a SPAC, including Scienjoy and SunCar. As a result, we cannot assure you that we will properly ascertain or assess all of the significant risk factors associated with a target business or that the price of the shares of the combined entity post -businesscombination will increase. Chinese Laws and Regulations The sponsor, Wealth Path Holdings Limited, and all members of our board of directors and management have significant business ties to or are based in China. Although we are not targeting target companies in China, we may consider a business combination with an entity or business with a physical presence or other significant ties to China, including Hong Kong and Macau, which may subject the post -businesscombination business to the laws