Chinese electric vehicle maker Huture Ltd. plans to go public at an estimated $1 billion value through a merger with special purpose acquisition company Aquaron Acquisition Corp., both parties announced Friday. The deal, orchestrated by five law firms, marks a significant milestone for the burgeoning hydrogen fuel cell vehicle market.
Huture and Aquaron $1B SPAC Merger : Nasdaq Listing Anticipated
Shares of the combined company will trade on the Nasdaq after the deal closes later this year, according to a joint statement. This strategic move will elevate Huture Ltd $1B SPAC Merger into a notable player in the global stock market.
Legal Counsel and Deal Details
Pillsbury Winthrop Shaw Pittman LLP, Commerce & Finance Law Offices, and Ogier are representing Huture in this landmark transaction. Wilson Sonsini Goodrich & Rosati PC and Jingtian & Gongcheng are serving as legal counsel to Aquaron.
The merger values Huture at approximately $1 billion. While the parties have not disclosed the expected funding from the deal, they stated that the proceeds will be used for working capital and general corporate purposes.
Huture and Aquaron $1B SPAC Merger: Huture’s Vision and Mission
Incorporated in the Cayman Islands, Huture specializes in manufacturing hydrogen fuel cell vehicles in China. The company also focuses on research and development to support a “transition to a low-carbon and sustainable future.”
