Company: NBRG
Filing Date: 2025-06-24
Form Type: DRS/A
Source: 0001213900-25-056981
Chunk: 196

Company: Newbridge Acquisition Ltd
Filing Date: 2025-06-24
Form: DRS/A
Chunk 196
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 closing price of Scienjoy’s ordinary shares on Nasdaq on June 17, 2025 was $0.88 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, regulations and policies of China. Any target for a business combination may conduct operations through subsidiaries in China. The legal and regulatory risks associated with doing business in China discussed in this prospectus may make us a less attractive partner in an initial business combination than other special purpose acquisition companies that do not have any ties to China. As such, our ties to China may make it harder for us to complete an initial business combination with a target company without any such ties. In addition, we will not conduct a business combination with any target company that conducts operations through variable interest entities (“VIEs”), which are a series of contractual arrangements used to provide the economic benefits of foreign investment in Chinese -basedcompanies where Chinese law prohibits direct foreign investment in the operating companies. As a result, this may limit the pool of acquisition candidates we may acquire in the PRC, in particular, relative to other special purpose acquisition companies that are not subject to such restrictions, which could make it more difficult and costly for us to consummate a business combination with a target business operating in the PRC relative to such other companies. If we were to complete a business combination with a Chinese entity, we could be subject to certain legal and operational risks associated with or having the majority of post -businesscombination operations in China. PRC laws and regulations governing PRC based business operations are sometimes vague and uncertain, and as a result these risks may result in material changes in the operations of any post -businesscombination subsidiaries, significant depreciation of the value of our ordinary shares, or a complete hindrance of our ability to offer, or continue to offer, our securities