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LiDAR Supplier Innovusion, TECHSTARACQ-Z Reach De-SPAC Agreement
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Special Purpose Acquisition Company (SPAC) TECHSTARACQ-Z (07855.HK) entered into a business combination agreement with Seyond Holdings Ltd. to merge with its subsidiary, Merger Sub, according to TECHSTARACQ-Z's announcement. Upon completion of the De-SPAC transaction, Seyond Holdings will be listed on the Stock Exchange as the Successor Company. The current negotiated value of Seyond Holdings in the De-SPAC transaction is $11.7 billion. Seyond Holdings mainly operates the design, development, and production of automotive-grade LiDAR solutions provider, "Innovusion”. Innovusion was founded in 2016, and currently has highly industrialized automotive-grade LiDAR manufacturing bases in Ningbo and Suzhou, with NIO-SW (09866.HK) (NIO.US) being its major customer and shareholder, according to the information from its official website. AAStocks Financial News |
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