Brief: BYTE Acquisition And Airship AI Holdings Announce Letter Of Intent For Business Combination

Airship AI Holdings

10/03/2023 14:24

March 10 (Reuters) - BYTE Acquisition Corp  BYTS.O :
    * BYTE ACQUISITION CORP. AND AIRSHIP AI HOLDINGS, INC.
ANNOUNCE
LETTER OF INTENT FOR A BUSINESS COMBINATION
    * BYTE ACQUISITION CORP - PROPOSED BUSINESS COMBINATION
VALUES
AIRSHIP AI AT A $290 MILLION PRO FORMA ENTERPRISE VALUE
    * BYTE ACQUISITION CORP- UNDER TERMS OF PROPOSED BUSINESS
COMBINATION, AIRSHIP AI SHAREHOLDERS TO ROLL 100% OF THEIR
EQUITY INTO COMBINED COMPANY
    * BYTE ACQUISITION CORP- BYTE AND AIRSHIP AI INTEND TO
JOINTLY
RAISE ADDITIONAL CAPITAL VIA A PRIVATE INVESTMENT IN PUBLIC
EQUITY
    * BYTE ACQUISITION CORP- UNDER PROPOSED MERGER DEAL BYTE HAS
AGREED TO SECURE A $4 MILLION PRE-TRANSACTION BRIDGE

Source text for Eikon:  ID:nBw1hMlMVa 
Further company coverage:  BYTS.O