Venus Acquisition Corp

NASDAQ:VENA   1:43:50 PM EDT
10.06
+0.03 (+0.30%)
Mergers / Acquisitions

Venus Acquisition Corporation Announces Proposed Business Combination With Viyi Algorithm Inc.

Published: 06/10/2021 13:13 GMT
Venus Acquisition Corp (VENA) - Venus Acquisition Corporation Announces Proposed Business Combination With Viyi Algorithm Inc.venus Acquisition Corp - Terms of Proposed Business Combination Provide for a Valuation of Viyi Algo and Its Subsidiaries and Businesses of $400 Million.
Venus Acquisition Corp - Unit of Venus Will Be Merged With and Into Viyi Algo With Viyi Algo Being Surviving Entity and Becoming Unit of Venus.
Venus Acquisition Corp - Upon Closing of Transaction, Venus Will Change Its Name to Microalgo Inc.venus Acquisition Corp - Based Upon per Share Value of $10.10 per Share, Viyi Algo Stockholders Will Receive About 39.6 Million Ordinary Shares of Venus.
Venus Acquisition Corp - Shares Received by Viyi Algo Stockholders Will Represent About 85% of Combined Outstanding Shares Following Closing.
Venus Acquisition Corp - Merger is Structured As a Stock-for-stock Transaction and is Intended to Qualify As a Tax-free Reorganization.
Venus Acquisition Corp - Pursuant to Terms of Proposed Merger, Post-closing Board Will Consist of 5 Members, 4 of Whom Will Be Nominated by Viyi Algo.