Able View Completes Business Combination with Hainan Manaslu Acquisition Corp. to Become Publicly Traded Company
- Successful closing validates Able View's value proposition and marks important milestone in corporate development
- Plan to leverage expanded resources, technology, brand equity, and operational know-how for growth
- None.
NEW YORK, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Able View Global Inc. (“Able View,” or the “Company”), one of the largest comprehensive brand management partners of international beauty and personal care brands in China, today announced that it has completed its previously announced business combination with Hainan Manaslu Acquisition Corp. (Nasdaq: HMAC) (“HMAC”), a publicly traded special purpose acquisition company. The business combination was approved at an extraordinary general meeting of HMAC’s shareholders on August 2, 2023. Upon the closing of the business combination, HMAC and Able View Inc. each becomes a wholly owned subsidiary of Able View Global Inc. Beginning August 18, 2023, Able View’s Class B ordinary shares and warrants will trade on the Nasdaq Capital Market under the ticker symbols “ABLV” and “ABLVW,” respectively.
Zhifan Zhou, Chief Executive Officer of HMAC commented, "We are excited to complete the Business Combination between HMAC and Able View. The HMAC team is honored to be part of this landmark occasion for Able View."
Jian Zhu, Chief Executive Officer of Able View commented, "The successful closing of our Business Combination with HMAC not only validates Able View's strong value proposition to our customers and shareholders, but also marks an important milestone in our corporate development. In addition, it should serve as a springboard to accelerate the growth of our company. Being a publicly-traded company, we plan to leverage our expanded resources, technology, brand equity, and operational know-how to capitalize on new growth opportunities and deliver lasting shareholder value."
Loeb & Loeb LLP and Maples and Calder (Cayman) LLP served as legal advisors to HMAC. Pryor Cashman LLP and Harney Westwood & Riegels served as legal advisors to Able View. Chain Stone Capital Limited served as financial advisor to Able View.
About Able View Global Inc.
Able View is one of the largest comprehensive brand management partners of international beauty and personal care brands in China. To purchase from global brand owners and conduct sales in China, Able View’s comprehensive brand management capabilities encompass all segments of the brand management value chain, including strategy, branding, digital and social marketing, omni-channel sales, customer service, overseas logistics, warehouse and fulfilment. The Company’s mission is to help global brands enter, grow and succeed in China.
Forward Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the business combination, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Able View expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Able View’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact
Able View:
Floor 16, Dushi Headquarters Building
No. 168, Middle Xizang Road
Shanghai, China, 200001
Tel: +86 185 0177 0425
Attn: Mr. Dennis Tang
Email: dennis.tang@ableview.hk
