LGHL - Lion along with two other parties sponsors SPAC company

Lion Group (LGHL) surged 15.1% premarket after announcing that one of its subsidiaries, Lion Wealth Management, will cooperate with Constant Epoch Technology Development, an investment and R&D company focusing on innovative technology sector, and Ruoxi, a company holding various investments in internet, technology, finance, healthcare and other industries, to form a SPAC company -- Skyline I Acquisition.Mr. Wilson (Chunning) Wang, CEO of Lion, will be the CEO and Director of Skyline I Acquisition."Having gone public via a SPAC vehicle, Lion has an extensive understanding of SPAC transactions, which compliments the background, experience, resources and connections that Constant Epoch and Ruoxi collectively have in the technology investment field. With these advantages, I believe we are able to identify a high-quality acquisition target for the SPAC and further consolidate Lion's value in the capital market," Wang commented.

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Lion along with two other parties sponsors SPAC company