Company: APAD
Filing Date: 2025-06-30
Form Type: S-1/A
Source: 0001213900-25-059198
Chunk: 28

Company: AParadise Acquisition Corp.
Filing Date: 2025-06-30
Form: S-1/A
Chunk 28
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 directly applicable to its evaluation of the target company, and the information contained in this prospectus regarding that industry might not be relevant to an understanding of the business that we elect to acquire. Despite the competitive advantages we believe we have, we remain subject to significant competition with respect to identifying and executing an acquisition transaction. Furthermore, none of our directors or management team is obligated to remain with the company after an acquisition transaction, and we cannot provide assurance that the resignation or retention of our current directors or management will be a term or condition in any agreement relating to an acquisition transaction. Our Founder’s Experience We are led by Mr. Claudius Tsang, who led Model Performance Acquisition Corp (“MPAC”), A SPAC I Acquisition Corp (“ASCA”), A SPAC II Acquisition Corp (“ASCB”) and JVSPAC Acquisition Corp (“JVSA”). In March 2021, Mr. Claudius Tsang commenced his tenure as CEO and Chairman of Model Performance Acquisition Corp. (ticker symbol: “MPAC”), a Special Purpose Acquisition Company (“SPAC”) incorporated for the purposes of effecting a business combination. MPAC completed its initial public offering in April 2021, generating aggregate proceeds of $57,500,000. On August 6, 2021, MPAC entered into a definitive agreement with Multimetaverse Inc. (ticker symbol: “MMV”), at a valuation of $300 million. MMV is an animation and entertainment company based in China. The definitive agreement did not impose a minimum cash requirement. In connection with the business combination, MPAC shareholders with an aggregate shareholding of 2,033,867 MPAC Class A Ordinary Shares exercised their right to redeem for cash. MMV also raised US$4.5 million from PIPE investors, which, together with the proceeds from non -redeemingMPAC shareholders, amounted to approximately US$6.7 million in gross proceeds. Upon consummation of the business combination, MPAC changed its name to “MULTIMETAVERSE HOLDINGS LIMITED.” The shares of the combined company began trading on January 5, 2023, on Nasdaq Global Market under the new ticker symbol “MMV”. Mr. Claudius Tsang was also a co -foundingdirector of A SPAC I Acquisition Corp. (ticker symbol: “ASCA”), a SPAC incorporated in July 2020 for the purposes of effecting a business combination. Mr. Tsang served as the chief financial officer, chairman and chief executive officer of ASCA. ASCA completed