Teng-Wei Chen
About Teng-Wei Chen
Teng-Wei Chen is an independent director of Aimfinity Investment Corp. I (AIMTF). He is a Taiwanese citizen and resident, serving on a board with significant foreign-person ties via the sponsor and certain directors, which the company addresses in its CFIUS discussion .
Board Governance
- Independence: Identified as an independent director .
- Committee assignments and chair roles: Not disclosed in current filings; the company’s charter requires an Audit Committee with a formal charter and at least one “audit committee financial expert,” and related-party transaction review via the Audit Committee, but individual memberships are not specified .
- Board structure: The board is divided into three classes with three-year terms; prior to the initial business combination, only founder shares vote on director appointments and holders of a majority of founder shares may remove directors for any reason .
- Voting control and sponsorship: Insiders (including the sponsor, directors and officers, and certain former insiders) collectively held approximately 66.4% of outstanding ordinary shares as of the record date and planned to vote in favor of extension proposals; the sponsor held 1,692,500 Class B founder shares (26.13%) managed by the CEO .
- Enforceability and jurisdictional risk: One independent director (Chen) and the CEO/Chairman are located in Taiwan; the company notes uncertainties around recognition and enforcement of U.S. judgments in Taiwan and Cayman Islands courts .
- CFIUS context: The sponsor may be deemed a “foreign person” under 31 C.F.R. Part 800; the company does not expect CFIUS issues from the proposed Docter combination (primarily Taiwan operations), but flags potential implications if that deal is abandoned and an alternative U.S. business is pursued .
| Governance Metric | Value | Notes |
|---|---|---|
| Class A shares outstanding (Record Date) | 1,758,476 | Including 1,072,957 Class A tendered for redemption |
| Class B shares outstanding (Record Date) | 2,012,500 | Founder shares |
| Trust Account balance (Record Date) | ~$14.29 million | As of Record Date |
| Insiders’ ownership (aggregate Ordinary Shares) | 2,504,500 (≈66.4%) | Insiders’ voting influence |
| Sponsor holding (Class B) | 1,692,500 (26.13%) | Managed by CEO/Chairman |
| EGM Vote Results (Oct 27, 2025) | For | Against | Abstain |
|---|---|---|---|
| Charter Amendment (extend deadline; allow 9 monthly extensions) | 2,785,849 | 2,097 | 4 |
| NTA Requirement Amendment (remove $5,000,001 NTA floor) | 2,787,946 | 0 | 4 |
Expertise & Qualifications
- Identified as an independent director; no further biography, age, education, or specific credentials disclosed in current filings .
- Charter-driven governance competencies: Audit Committee must include at least one “audit committee financial expert,” meet quarterly, and oversee related-party transactions; specific expert designation is not disclosed for Chen .
Equity Ownership
- Chen is not named among individuals listed in the company’s beneficial ownership table as of September 28, 2025, which enumerates holders with beneficial ownership (including director and officer holders) and 5% owners; absence of a line item suggests no reportable ownership within SEC’s 60-day exercisability window at that date .
| Holder | Class B Shares | % of Class B | Class A Shares | % of Class A |
|---|---|---|---|---|
| Teng-Wei Chen | — | — | — | — (Not listed among named beneficial owners as of Sept 28, 2025) |
Governance Assessment
- Alignment and conflicts: Founder shares would become worthless absent a combination; insiders (including directors) agreed not to redeem, creating pressure to consummate a deal—an incentive structure that can misalign with public shareholders if deal quality is compromised . The sponsor is controlled by the CEO/Chairman, and insiders may provide working capital loans convertible into private units (up to $1,500,000 at $10.00 per unit), which can introduce perceived conflicts and dilute public float upon conversion .
- Control dynamics: Insiders’ 66.4% voting power at the record date, combined with founder-share appointment rights pre-business combination, concentrates control and limits public holders’ influence over director selection—heightening the importance of truly independent oversight from directors like Chen .
- Jurisdiction and enforcement: With Chen and the CEO located in Taiwan and the sponsor Cayman-domiciled, enforcement of U.S. judgments is uncertain, raising practical governance and recourse risks for U.S. investors .
- Regulatory pathway (CFIUS): While the company does not expect CFIUS issues for the Docter deal, it warns that abandoning the transaction and pursuing a U.S. business could trigger foreign-person review scrutiny given sponsor composition and director residencies .
- RED FLAGS:
- Concentrated insider voting power and sponsor control of founder shares .
- Convertible insider financing that can become equity post-close (dilution risk and perceived conflict) .
- Uncertain cross-border enforcement of judgments (investor recourse risk) .
Net takeaway: Chen’s formal independence is positive, but the current SPAC governance environment (insider control, sponsor dynamics, convertible loans, and cross-border enforcement risk) places heightened weight on independent director oversight and process rigor to protect public shareholders .