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Evergreen (NASDAQ: EVGR) has announced a definitive merger agreement with Forekast , a technology managed services provider specializing in augmented intelligence. The combined company will operate as Forekast Group, valued at an enterprise value of $105 million. Forekast has demonstrated strong growth with a CAGR of over 20% in the past 5 years.
The merger aims to accelerate Forekast's growth, expand its market reach, and enhance its AI-powered solutions. The transaction is expected to close by the end of 2024, subject to customary closing conditions and shareholder approvals. Any remaining funds in EVGR's trust account will be used for R&D, marketing, market expansion, talent acquisition, and potential strategic acquisitions.
Evergreen Corporation (Nasdaq: EVGRU) announced the closing of its initial public offering, raising $115 million from the sale of 10 million units at $10.00 each, including an over-allotment of 1.5 million units. Each unit comprises one Class A ordinary share and one redeemable warrant. The units began trading on February 9, 2022, with forthcoming separations into Class A shares (EVGR) and warrants (EVGRW). The Company focuses on potential business combinations primarily in technology sectors including Artificial Intelligence, FinTech, and more in the ASEAN region.
Evergreen Corporation announced the pricing of its initial public offering (IPO) of 10 million units at $10.00 per unit, set to begin trading on Nasdaq under the symbol EVGRU on February 9, 2022. Each unit comprises one Class A ordinary share and a redeemable warrant, allowing the purchase of an additional share at $11.50. The offering intends to pursue a merger or business combination within technology sectors such as AI, FinTech, and the Metaverse, focusing on the ASEAN region. Closing is expected by February 11, 2022.
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