East Stone Acquisition Corp
Completed 2022-11-10- CIK 1760683
- ESSC
- Now NWTN
- IPO 2020-02-21
- $33.5M trust
- 169 filings
Successfully merged with NWTN Inc. • Now trading as NWTN
- IPO Size
- $138M
- raised at the IPO
- Trust
- $33.5M
- as of 2022-06-30
- Current Status
- Completed
- from its latest filing
- IPO Year
- 2020
- year it listed
Filings, by quarter
169 filings over 14 quarters; violet bars carry a milestone
- 19 Q3: 1 filing
- 19 Q4: 3 filings
- 20 Q1: 28 filings
- 20 Q2: 2 filings
- 20 Q3: 6 filings
- 20 Q4: 13 filings
- 21 Q1: 10 filings
- 21 Q2: 10 filings
- 21 Q3: 9 filings
- 21 Q4: 21 filings
- 22 Q1: 20 filings
- 22 Q2: 12 filings
- 22 Q3: 17 filings
- 22 Q4: 17 filings
- S-1 filed 19 Q3
- IPO 20 Q1
- Definitive agreement 22 Q3
- Completed 22 Q4
SPAC Overview
Where it stands on the road from S-1 to merger
Timeline Progress
About
East Stone Acquisition Corporation is a newly organized blank-check company formed to complete an initial business combination with a business. Its intended focus is financial-services businesses and businesses providing technological services to the financial industry (fintech) in North America and Asia-Pacific.
Investment Focus
Financial Services, FinTech
Geographic Focus
North America, Asia-Pacific
Key Information
As the filings state it
- IPO Date
- 2020-02-21
- Total Redemptions
- $21.3M
- PIPE
- $400M
- Jurisdiction of Incorporation
- British Virgin Islands
- SIC
- 6770
- Completion Date
- 2022-11-10
- Merger Target
- NWTN Inc.
- SPAC Ticker
- ESSC
- Merged Ticker
- NWTN
Stock Performance
NWTNTrading symbol, and its price at each step since the first trade
| Point | Date | Price | Move |
|---|---|---|---|
| First Trade | 2025-09-30 | $24.89 | |
| 6 Months Post-Merger | 2025-09-30 | $25.00 | 0% |
| 1 Year Post-Merger | 2025-09-30 | $25.00 | 0% |
| 2 Years Post-Merger | 2025-09-30 | $25.00 | 0% |
| Current Price | 2026-09-28 | $28.78 | +16% |
SPAC Team
The banks on its IPO, and the team as the filings describe it
Underwriters
Extended Team Information
The management team includes finance, private equity, technology, capital markets, and entrepreneurial experience. The prospectus describes experience in operating and growing companies, investing in technology companies, acquisitions, and helping companies transition to public ownership.