They are a newly incorporated blank check company. While they may pursue a business combination target in any business or industry, they intend to search globally for a target with operations or prospects focusing on global consumer, technology or media sectors with disruptive growth potential through the use of technology that can benefit from operations in Asia. They believe there has been an increasing number of innovative companies that have chosen to remain private due to vast capital availability and rising valuation afforded by the private markets, as compared to going through the traditional initial public offering process, which provides attractive investment opportunities for them. They intend to seek proprietary and unique targets that can benefit from its large addressable markets underpinned by strong consumer-driven shifts. They also aim to identify proven business models that can be tailored to the Asian market and benefit from accelerated growth. Magnum Opus Holdings LLC, their sponsor, is affiliated with L2 Capital, a private investment firm founded in 2020 by Jonathan Lin, Frank Han and Kevin Lee. Located in Hong Kong and Shanghai, L2 Capital aims to invest primarily in emerging industry leaders in the Greater China consumer and TMT sectors.