Newborn Acquisition Corp. announced that it will issue 250,000 units at a price of $10 per unit for gross proceeds of $2,500,000 on January 3, 2020. The transaction will include participation from NeoGenesis Holding Co. Ltd. Each unit will consists of one ordinary share, one non-redeemable warrant, and one right to receive one-tenth of an ordinary share. The securities issued are subject to resale restriction. Each warrant entitles the holder thereof to purchase one-half of one ordinary share. The exercise price of the warrants is $11.50 per full share. The transaction has been approved by board of directors of the company.