Feutune Light Acquisition closes IPO, raises $102.7M gross, $99.2M in trust

Thunder Power Holdings, Inc.

IPO of 9,775,000 units at $10/unit (including full over-allotment of 1,275,000 units).
Private placement of 498,875 units to sponsor and USTS for $4.99M.
Total gross proceeds of $102.7M; $99.2M placed in trust account earning interest.
Company has 9 months (up to 18) to complete a business combination; cannot target entities based in China.
Cash outside trust: $1.03M for working capital; transaction costs total $6.4M.

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