YHN Acquisition I completes IPO raising $60M; trust account funded, auditor flags going concern risk

YHN Acquisition I Ltd

Closed IPO of 6,000,000 units at $10.00/unit; gross proceeds $60M; private placement of 250,000 units to sponsor added $2.5M.
Trust account holds $60,300,000 ($10.05/share) as of Sept 19, 2024; $737,704 released for working capital.
Auditor raises substantial doubt about going concern: must complete business combination by Dec 18, 2025 or liquidate.
Accumulated deficit of $669,296; working capital of $830,704.

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