OceanLight Acquisition Corporation Units

AIRE Inc. Announces Entering into an Agreement and Plan of Merger with OceanLight Acquisition Corporation

OceanLight Acquisition Corporation (Nasdaq: OCLT) has signed a definitive Agreement and Plan of Merger with AIRE Inc., a Cayman Islands home textile and green sleep technology company, marking the SPAC's business combination announcement. The deal sets AIRE's Company Net Value at $1.0 billion, with Closing Payment Shares to AIRE shareholders calculated as that value divided by $10.00; AIRE will survive as a subsidiary of Purchaser AIRE Global Group Inc., which becomes the publicly traded company. Closing remains subject to SEC effectiveness of the Form F-4, shareholder approvals of both companies, and Nasdaq approval of the additional listing application.

•1mo ago