Andrii Yalanskyi
- Blank check company Aimei Health Technology (NASDAQ:AFJK) is set to merge with the hydrogen solution company United Hydrogen Group, with the transaction valuing the combined company at ~$1.6B.
- United Hydrogen is set to operate through a publicly-traded holding company listed on Nasdaq Stock Market, with the securities to trade on the stock exchange under a new ticker symbol.
- The boards of both the companies have approved the transaction.
- Assuming no redemptions by AFJK's shareholders, the current shareholders of United Hydrogen are estimated to own ~94% of the issued and outstanding shares in Pubco, the newly formed holding company.
- The transaction is expected to close in Q3.
- The combined entity is set to be led by United Hydrogen's executive management team, headed by founder and CEO Xia Ma.
- Source: Press Release