Brief: Chijet Motor To Go Public Via Deal With Deep Medicine Acquisition Corp

Trugolf Holdings

13/07/2022 11:42

July 13 (Reuters) - Deep Medicine Acquisition Corp  DMAQ.O :
    * CHIJET MOTOR COMPANY, INC. HAS ENTERED INTO A BUSINESS
COMBINATION AGREEMENT WITH DEEP MEDICINE ACQUISITION CORP. TO
BECOME A PUBLIC COMPANY TO ADVANCE ITS ELECTRIC VEHICLE BUSINESS
AND SALES OF GASOLINE VEHICLES IN CHINA AND SOUTHEAST ASIA
    * DEEP MEDICINE ACQUISITION CORP - BUSINESS COMBINATION
AGREEMENT
WITH DEEP MEDICINE ACQUISITION CORP. VALUES CHIJET'S OPERATING
COMPANIES AT $2.55 BILLION
    * DEEP MEDICINE ACQUISITION CORP - EXPECTED NET PROCEEDS OF
UP TO
APPROXIMATELY $127.8 MILLION UPON CLOSING OF DEAL
    * DEEP MEDICINE ACQUISITION CORP - HONGWEI MU, CHAIRMAN OF
CHIJET,
AND EXISTING LEADERSHIP TEAM WILL LEAD COMBINED COMPANY
    * DEEP MEDICINE ACQUISITION  - CHIJET, DMAQ WILL BE ACQUIRED
BY
NEWLY-FORMED HOLDING COMPANY NAMED CHIJET MOTOR COMPANY,
EXPECTED TO BE LISTED ON NASDAQ

Source text for Eikon:  ID:nGNX64sj14 
Further company coverage:  DMAQ.O 

 ((Reuters.Briefs@thomsonreuters.com;))