Brief: Chijet Motor Company Inc To Go Public With Jupiter Wellness Acquisition Corp, a SPAC

Digital Currency X Technology

26/10/2022 13:49

Oct 26 (Reuters) - Jupiter Wellness Acquisition Corp
 JWAC.O :
    * CHIJET MOTOR COMPANY, INC. ENTERED INTO A BUSINESS
COMBINATION
AGREEMENT WITH JUPITER WELLNESS ACQUISITION CORP. TO BECOME A
PUBLIC COMPANY TO ADVANCE ITS ELECTRIC VEHICLE BUSINESS AND
SALES OF GASOLINE VEHICLES IN CHINA AND SOUTHEAST ASIA
    * CHIJET MOTOR COMPANY, INC. ENTERED INTO A BUSINESS
COMBINATION
AGREEMENT WITH JUPITER WELLNESS ACQUISITION CORP. TO BECOME A
PUBLIC COMPANY TO ADVANCE ITS ELECTRIC VEHICLE BUSINESS AND
SALES OF GASOLINE VEHICLES IN CHINA AND SOUTHEAST ASIA
    * JUPITER WELLNESS ACQUISITION CORP - BUSINESS COMBINATION
AGREEMENT WITH CO VALUES CHIJET'S OPERATING COMPANIES AT $1.6
BILLION
    * JUPITER WELLNESS ACQUISITION CORP - BUSINESS COMBINATION
AGREEMENT WITH JUPITER WELLNESS ACQUISITION CORP. VALUES
CHIJET'S OPERATING COMPANIES AT $1.6 BILLION
    * JUPITER WELLNESS ACQUISITION CORP - EXPECTED PROCEEDS WILL
BE
APPROXIMATELY $140.2 MILLION BEFORE PAYMENT OF TRANSACTION
EXPENSES
    * JUPITER WELLNESS ACQUISITION CORP - HONGWEI MU, CHAIRMAN
OF
CHIJET, AND EXISTING LEADERSHIP TEAM WILL LEAD COMBINED COMPANY
    * JUPITER WELLNESS ACQUISITION CORP- BOTH CHIJET AND JWAC
WILL BE
ACQUIRED BY A NEWLY-FORMED HOLDING COMPANY NAMED CHIJET MOTOR
COMPANY, INC
    * JUPITER WELLNESS ACQUISITION - CASH PROCEEDS FROM DEAL
ANTICIPATED TO BE USED FOR CONSTRUCTION OF CHIJET'S YANTAI
ELECTRIC VEHICLE MANUFACTURING BASE
    * JUPITER WELLNESS ACQUISITION CORP - NEWLY-FORMED HOLDING
COMPANY
FROM DEAL NAMED CHIJET MOTOR COMPANY EXPECTED TO BE LISTED ON
NASDAQ

Source text for Eikon:  ID:nGNX6P3Tk3 
Further company coverage:  JWAC.O 
 ((Reuters.Briefs@thomsonreuters.com;))