Enhanced Group Inc. Anticipated to List on the Nasdaq Stock Exchange Under Ticker Symbol: ENHA in Connection with Closing and Subject to Regulatory Approval
Enhanced is an elite sports competition and innovative performance company providing products that optimize health and longevity
Business Combination Expected to Provide Capital to Execute Growth Strategy Across Live Events, Media Production and Direct-to-Consumer Offerings
Inaugural Enhanced Games to Take Place in Las Vegas on May 24, 2026, Featuring Growing List of World-Class Athletes
Enhanced Receives Additional $40 Million Equity Private Placement Round that Closed Prior to Signing the Business Combination Agreement

NEW YORK and HONG KONG, Nov. 26, 2025 /PRNewswire/ -- Enhanced Ltd ("Enhanced" or the "Company") today announced it has entered into a definitive business combination agreement with A Paradise Acquisition Corp. ("A Paradise") (NASDAQ:APAD), a special purpose acquisition company (SPAC), to bring its global sports business to the public markets.

The business combination values Enhanced at an enterprise value of $1.2 billion and is expected to provide up to $200 million in gross cash proceeds upon closing assuming no redemptions by SPAC shareholders. The consummation of the business combination, subject to regulatory approval, will result in Enhanced becoming a publicly traded company called Enhanced Group Inc. on the Nasdaq Stock Exchange ("Nasdaq") under ticker symbol "ENHA".

Additionally, immediately prior to the business combination agreement, Enhanced closed a $40 million equity private placement in the form of a Simple Agreement for Future Equity (SAFE), which is convertible into Enhanced public company shares following consummation of the business combination. If the business combination does not close, SAFE investors would become shareholders of Enhanced Ltd, providing committed capital to execute the inaugural 2026 Enhanced Games. The SAFE was raised largely from existing Enhanced shareholders in exchange for a partial early release from lock-up of their existing Enhanced securities, and therefore should not be seen as a third party validation of the business combination valuation. Investors in the SAFE have received one warrant for every two shares exercisable for two years at a $1.2 billion valuation if the business combination is consummated.

The company is grateful for the continued support of its existing investor base, which represents the majority of the equity placement. In addition, the company welcomes several new blue chip investors.

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Wednesday, November 26, 2025