Newbridge Acquisition closes $57.5M SPAC IPO; auditor flags going concern

Newbridge Acquisition Ltd

IPO of 5,750,000 units at $10/unit (incl. full over-allotment) raised $57.5M gross.
Private placement of 186,250 units to sponsor Wealth Path Holdings added $1.86M.
Trust account holds $57.5M from IPO proceeds; cash on hand $1.82M.
Auditor notes working capital deficit of $1.77M and accumulated deficit of $620k, raising substantial doubt about going concern.

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