Chenghe Acquisition Co. Class A (CHEA) has released an update.
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Chenghe Acquisition Co. has announced a business combination with Semilux International Ltd., Taiwan Color Optics, Inc., and their subsidiaries, aiming to merge and operate under the name “SEMILUX LTD.” as a wholly owned subsidiary. While the merger is in progress, its completion is contingent upon meeting certain conditions, including Nasdaq’s approval for listing the new entity’s shares. There’s a deadline of March 2, 2024, to finalize the deal, with provisions for an extension by Chenghe’s board. If the merger fails by the deadline without an extension, Chenghe will wind up operations and redeem its shares at the trust account’s value. This business move carries risks and uncertainties, as with any forward-looking statements, and the success of the merger is not guaranteed.
For further insights into CHEA stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
