Feutune Light’s Strategic Merger and Governance Overhaul

Feutune Light Acquisition Corporation Class A (FLFV) has issued an update.

On June 17, 2024, Feutune Light Acquisition Corporation (FLFV) convened a special stockholders’ meeting, securing approval for a significant business combination with Thunder Power Holdings Limited and several related charter and governance amendments. These approvals will facilitate the merger of Thunder Power into a wholly-owned subsidiary of FLFV, with the post-merger entity to be named Thunder Power Holdings, Inc. Notably, an amendment was passed to avoid FLFV’s classification under “penny stock” rules, alongside the adoption of a 2024 equity incentive plan and the issuance of substantial new shares in compliance with Nasdaq regulations. The meeting and subsequent press release signal a strategic move to enhance FLFV’s financial flexibility and market position.

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