© Reuters.
The merger of Plutonian Acquisition and Shenzhen’s Big Tree Cloud International Group, a feminine hygiene products manufacturer, was announced on Wednesday. The transaction is valued at $10 per share and is subject to approval from U.S authorities. If approved, the merger is expected to be completed by the first half of 2024.
The combined entity, to be known as Big Tree Cloud Holdings Ltd, will trade on the Nasdaq Stock Market following the merger. The funds raised through this merger will be allocated towards working capital requirements and corporate needs. This move is set to support Big Tree Cloud’s ambitions to expand its product portfolio beyond feminine care.
The merger represents a significant step for both companies as they seek to consolidate their resources and expand their market reach. The forthcoming months will provide more clarity on the progress of the merger, pending regulatory approvals and market conditions.
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