Brief: Bowen Acquisition Corp Announces Entering Into Merger Agreement With Shenzhen Qianzhi Biotech Company

Bowen Acquisition

19/01/2024 24:04

Jan 18 (Reuters) - Bowen Acquisition Corp  BOWN.O :
    * ANNOUNCES ENTERING INTO MERGER AGREEMENT WITH SHENZHEN
QIANZHI
BIOTECH COMPANY
    * NEWCO SHAREHOLDERS WILL RECEIVE AN AGGREGATE OF 7.25
MILLION
ORDINARY SHARES OF BOWN
    * BOWEN ACQUISITION: TRANSACTION HAS BEEN APPROVED BY BOARDS
OF
DIRECTORS OF BOTH BOWN & QIANZHI BIOTECH & EXPECTED TO BE
CONSUMMATED IN Q2 OR Q3 OF 2024
    * NEWCO SHAREHOLDERS HAVE RIGHT TO RECEIVE ADDITIONAL 1.4
MILLION
SHARES OF BOWN UPON ACHIEVEMENT OF CERTAIN EARNOUT TARGETS
    * COMBINED COMPANY IS EXPECTED TO REMAIN A NASDAQ-LISTED
PUBLIC
COMPANY TRADING UNDER A NEW TICKER SYMBOL
    * QIANZHI BIOTECH'S EXECUTIVE MANAGEMENT TEAM WILL CONTINUE
TO
LEAD COMBINED COMPANY
    * MAJORITY SHAREHOLDER OF NEWCO HAS AGREED TO VOTE IN FAVOR
OF
MERGER.
    * PURSUANT TO MERGER, BOWEN MERGER SUB WILL MERGE WITH AND
INTO
QIANZHI GROUP HOLDING (CAYMAN) LIMITED, PARENT OF QIANZHI
BIOTECH

Source text for Eikon:  ID:nGNX60PBqv 
Further company coverage:  BOWN.O 

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