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.
Key figures
- Deal Value Usd
- $1.0 billion
- Structure
- Merger Sub merges into AIRE; AIRE survives as subsidiary of Purchaser (AIRE Global Group Inc.), which becomes the publicly traded company
- Company net value
- $1.0 billion
- Share price equivalent
- $10.00
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