Enhanced Ltd. to Go Public via A Paradise (NASDAQ: APAD) SPAC Merger as ENHA

Rhea-AI Filing Summary

A Paradise Acquisition Corp. and Enhanced Ltd. have announced a proposed business combination that would take Enhanced public. After receiving required regulatory approvals, the combined company is expected to trade on the NASDAQ under the ticker ENHA. Enhanced’s leadership describes going public as a key step in its growth, supporting its mission to "Live Enhanced" and to define the human enhancement sports category.

Management emphasizes that becoming a public company aligns with goals of greater transparency and strong governance in sporting, medical, and financial matters. They also highlight a vision of treating athletes as partners and allowing fans to participate in Enhanced’s future through potential share ownership. The inaugural Enhanced Games are referenced as planned for May 24, 2026 in Las Vegas, positioned as a major milestone in the company’s sports platform.

Insights

SPAC and capital markets analyst

Enhanced plans to go public via a SPAC merger with A Paradise, pending approvals.

The content describes a proposed business combination between Enhanced Ltd. and A Paradise Acquisition Corp., a SPAC, which would result in Enhanced becoming a publicly traded company on NASDAQ under ticker ENHA after regulatory approvals. This is a typical de-SPAC pathway, shifting Enhanced from private to public ownership without a traditional IPO.

Management frames the transaction around themes of transparency, governance, and aligning financial success with athletes and fans. While no valuation, deal size, or capital structure details are provided here, the messaging suggests an intent to create a broader shareholder base that includes fans. For investors, the main takeaway in this excerpt is the strategic decision to access public markets through a SPAC structure; concrete financial implications would depend on terms disclosed in more detailed transaction documents.

Filed by A Paradise Acquisition Corp. pursuant to Rule 425

under the Securities Act of 1933, as amended,

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934, as amended

Subject Company: A Paradise Acquisition Corp. (File No. 001-42769)

On November 26, 2025, Maximilian Martin, Chief Executive Officer of Enhanced Ltd. posted the following on Instagram in connection with the proposed business combination with A Paradise Acquisition Corp.:

To all our athletes, fans, and partners: 

We have very exciting news to share. Today marks a milestone day in the history of Enhanced. We’re going public! A big step towards our mission of giving everyone in the world the opportunity to Live Enhanced.

We have officially announced a business combination agreement with A Paradise Acquisition Corp ($APAD), and, upon receiving regulatory approval we’ll begin trading on the NASDAQ under the ticker $ENHA.  

Being a public company aligns to our mission of delivering transparency in sport. Similar to our athletes, we want our company to be held to the highest standards of transparency and performance and we’re sprinting towards governance in all forms - sporting, medical and now financial. 

Going public is the right step for Enhanced at this stage of our growth, as we define the human enhancement category and cement our leadership position early. This move will also allow you, our fans, to participate in the financial performance of Enhanced going forward. It is important that everyone who is part of the Enhanced Movement, can participate in our shared success. 

We wouldn’t be here without the support of each and one of you, but this especially applies to our athletes and coaches. An enormous, heartfelt thank you for the trust you have placed in us to deliver this new platform. One where you can truly shine. More than ever I am excited for the inaugural Games in May of 2026, where we’ll watch each of you redefine modern sports. 

Thank you again for the incredible support as Enhanced aims to redefine the future of sport and human performance. 

Stay Enhanced,

Max

CEO, Enhanced 

On November 26, 2025, Christian Angermayer, founder of Apeiron Investment Group Limited and chairman of Enhanced Ltd. posted the following on LinkedIn in connection with the proposed business combination of Enhanced Ltd. with A Paradise Acquisition Corp.:

Sport is about community, fairness, and winning together.

People have come to understand the Enhanced Games’ stance on performance-enhancements - a position we believe creates a true level playing field and allows us to embrace scientific progress rather than deny it.

Equally important is the second innovation we’re bringing to athletics, swimming, and weightlifting: Fair Pay.

We see our athletes as partners - and partners deserve an equitable share of the financial success they create.

Today, we announced our business combination agreement (BCA) with A Paradise SPAC

Taking the step to become a public company aligns seamlessly with our mission of delivering transparency in sport. Similar to our athletes, we want Enhanced to be held to the highest standards of transparency and performance. We are legitimately sprinting towards governance in all forms - sporting, medical and now financial.

In this spirit, we want to allow all our fans to participate in our journey. Not just as bystanders watching our events or engaging with our athletes, but as active participants - as shareholders in the Enhanced Games.

Today’s announcement represents another major milestone, but it is far from the last. We are just getting started.

May 24th, 2026, Las Vegas

https://lnkd.in/eKnzv5vC

Enhanced to Go Public Through Business Combination with a Paradise Acquisition Corp. - Enhanced

enhanced.com

FAQ

What did A Paradise Acquisition Corp. (APAD) announce with Enhanced Ltd.?

A Paradise Acquisition Corp. and Enhanced Ltd. announced a proposed business combination that would take Enhanced public. After the transaction and required regulatory approvals, the combined company is expected to trade on the NASDAQ under the ticker ENHA.

Will Enhanced Ltd. be listed on NASDAQ after the APAD business combination?

Yes. The announcement states that, upon receiving regulatory approval for the business combination with A Paradise Acquisition Corp., Enhanced is expected to begin trading on the NASDAQ under the ticker symbol ENHA.

How does Enhanced Ltd. describe the reason for going public with APAD?

Enhanced’s CEO calls going public a key step at this stage of the company’s growth, saying it supports defining the human enhancement category and strengthening its leadership position. Management also links becoming a public company to delivering greater transparency and stronger governance in sporting, medical, and financial areas.

How are athletes and fans expected to benefit from Enhanced’s proposed SPAC merger?

Leadership emphasizes that athletes are seen as partners who should share in financial success, and that going public would allow fans to participate as shareholders. They describe this as extending the Enhanced community beyond viewing events to owning a stake in the Enhanced Games.

When are the inaugural Enhanced Games mentioned in connection with APAD’s deal?

The posts highlight the inaugural Enhanced Games as a major upcoming milestone, stating that the first Games are planned for May 24, 2026 in Las Vegas, where athletes are expected to showcase the company’s vision for modern sports.

What themes does Enhanced emphasize about governance and transparency in going public?

Enhanced’s leadership states that becoming a public company aligns with delivering transparency in sport and being held to the highest standards of transparency and performance. They refer to “sprinting towards governance in all forms – sporting, medical and now financial.”