White Pearl Acquisition Corp. closes $115M IPO and private placement

White Pearl Acquisition Corp.

IPO of 11.5M units at $10.00 each raised $115M; full over-allotment exercised.
Sponsor purchased 290K private placement units at $10.00, adding $2.9M.
Total $115M placed in trust; 18 months to complete initial business combination.
Auditor notes substantial doubt about going concern if combination not completed.
Balance sheet shows $2.16M cash outside trust and $117.17M total assets.

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