Hunter Maritime Acquisition’s proposed use of funds from its blank-cheque initial public offering to merge with a Chinese financial-technology company looks to be a capitulation on original hopes that it could emerge as a shipowner.
Alexander Saverys-led Hunter swung and missed on its attempt to acquire five capesize bulkers in June 2017 after so many investors wanted to take their money out of the deal that there would not have been enough cash left to buy the ships.
