MoFo Advised A Paradise Acquisition Corp. in Connection with its US$1.2 Billion De-SPAC Business Combination with Enhanced

Morrison Foerster advised A Paradise Acquisition Corp. (“A Paradise”; Nasdaq: APADU), a special purpose acquisition company (“SPAC”), in connection with its de-SPAC business combination with Enhanced Ltd., an elite sports competition and performance products company.

The de-SPAC closed on Thursday, May 7, 2026, and brings Enhanced’s global sports business to the public markets, becoming a publicly traded company called Enhanced Group Inc. (“Enhanced”) that commenced trading on the New York Stock Exchange under ticker symbol “ENHA” on Friday, May 8, 2026. The transaction values Enhanced at an enterprise value of US$1.2 billion.

MoFo previously advised on A Paradise’s US$200 million SPAC IPO, following its listing on the Nasdaq on July 30, 2025.

The global MoFo team was led by Hong Kong M&A/PE partner Xiaoxi Lin, New York capital markets partner John Owen, and Hong Kong M&A/PE associate Yilong Luo, supported by Washington D.C. capital markets partner Ryan Adams, Hong Kong M&A/PE associates Katrina Tsoi, Ferdinand Loo, and Winnie Lam, and New York capital markets associate Devansi Reshamwala. Austin capital markets partner John Hensley led matters relating to the re‑domestication of A Paradise to Texas, supported by Austin capital markets associate Eric Harper.

MoFo’s global SPAC team has worked on over 50 SPAC IPO and de-SPAC transactions with an aggregate value of approximately US$70 billion for de-SPAC transactions. From the United States to Asia and Europe, we have experience from all vantage points on the economics and processes of raising SPACs, structuring de-SPAC transactions, including PIPE investments, and post-merger management.

Read the press release by Enhanced Group Inc.