MKDWELL Tech Inc. and Cetus Capital Complete Business Combination
MKDWELL Tech Inc. (MKDW), an automotive electronics manufacturer, has completed its business combination with Cetus Capital Acquisition Corp. on July 31, 2024. The company's ordinary shares and warrants will begin trading on Nasdaq under the symbols MKDW and MKDWW on August 1, 2024.
This follows Cetus Capital's stockholders' approval on July 9, 2024, and the fulfillment of all closing conditions. The company will be led by founder Ming-Chia Huang as CEO and Chairman, with Min-jie Cui as CFO. The Board includes Executive Director Ming-Chao Huang and Independent Directors Chih-Hsiang Tang, Chung-Yi Sun, and Jung-Te Chang.
MKDWELL Tech Inc. (MKDW), un produttore di elettronica automobilistica, ha completato la sua fusione con Cetus Capital Acquisition Corp. il 31 luglio 2024. Le azioni ordinarie e i warrant dell'azienda inizieranno a essere scambiate su Nasdaq con i simboli MKDW e MKDWW a partire dal 1 agosto 2024.
Questo è avvenuto dopo l'approvazione da parte degli azionisti di Cetus Capital il 9 luglio 2024 e il soddisfacimento di tutte le condizioni di chiusura. L'azienda sarà guidata dal fondatore Ming-Chia Huang come CEO e Presidente, con Min-jie Cui come CFO. Il Consiglio include il Direttore Esecutivo Ming-Chao Huang e i Direttori Indipendenti Chih-Hsiang Tang, Chung-Yi Sun e Jung-Te Chang.
MKDWELL Tech Inc. (MKDW), un fabricante de electrónica automotriz, ha completado su fusión con Cetus Capital Acquisition Corp. el 31 de julio de 2024. Las acciones ordinarias y los warrants de la empresa comenzarán a cotizar en Nasdaq bajo los símbolos MKDW y MKDWW a partir del 1 de agosto de 2024.
Esto sigue a la aprobación por parte de los accionistas de Cetus Capital el 9 de julio de 2024 y el cumplimiento de todas las condiciones de cierre. La empresa será liderada por el fundador Ming-Chia Huang como CEO y Presidente, con Min-jie Cui como CFO. La Junta incluye al Director Ejecutivo Ming-Chao Huang y a los Directores Independientes Chih-Hsiang Tang, Chung-Yi Sun y Jung-Te Chang.
MKDWELL Tech Inc. (MKDW), 자동차 전자 제품 제조업체가 Cetus Capital Acquisition Corp.와의 사업 결합을 2024년 7월 31일에 완료했습니다. 회사의 보통주와 워런트는 2024년 8월 1일부터 Nasdaq에서 MKDW 및 MKDWW 상징으로 거래될 예정입니다.
이번은 2024년 7월 9일 Cetus Capital의 주주 승인 및 모든 결Closing 조건 충족에 따른 것입니다. 회사는 창립자 Ming-Chia Huang가 CEO 겸 의장을 맡고, Min-jie Cui가 CFO로서 이끌 것입니다. 이사회에는 전무 이사인 Ming-Chao Huang과 독립 이사인 Chih-Hsiang Tang, Chung-Yi Sun, Jung-Te Chang이 포함됩니다.
MKDWELL Tech Inc. (MKDW), un fabricant d'électronique automobile, a achevé sa fusion avec Cetus Capital Acquisition Corp. le 31 juillet 2024. Les actions ordinaires et les bons de souscription de l'entreprise commenceront à être négociés sur Nasdaq sous les symboles MKDW et MKDWW à partir du 1er août 2024.
Cela fait suite à l'approbation des actionnaires de Cetus Capital le 9 juillet 2024 et à la satisfaction de toutes les conditions de clôture. L'entreprise sera dirigée par le fondateur Ming-Chia Huang en tant que PDG et Président, avec Min-jie Cui comme directeur financier (CFO). Le conseil comprend le directeur exécutif Ming-Chao Huang et les administrateurs indépendants Chih-Hsiang Tang, Chung-Yi Sun et Jung-Te Chang.
MKDWELL Tech Inc. (MKDW), ein Hersteller von Automobil-Elektronik, hat am 31. Juli 2024 seine Firmenkombination mit Cetus Capital Acquisition Corp. abgeschlossen. Die Stammaktien und Warrants des Unternehmens werden ab dem 1. August 2024 unter den Symbolen MKDW und MKDWW an der Nasdaq gehandelt.
Dies folgt auf die Genehmigung durch die Aktionäre von Cetus Capital am 9. Juli 2024 und das Erfüllen aller Abschlussbedingungen. Das Unternehmen wird von seinem Gründer Ming-Chia Huang als CEO und Vorsitzendem geleitet, wobei Min-jie Cui CFO sein wird. Der Vorstand besteht aus dem geschäftsführenden Direktor Ming-Chao Huang und den unabhängigen Direktoren Chih-Hsiang Tang, Chung-Yi Sun und Jung-Te Chang.
- Successful completion of business combination with Cetus Capital
- Listing on Nasdaq Stock Market
- Stockholder approval obtained for the transaction
- None.
Insights
The completion of the business combination between MKDWELL Tech Inc. and Cetus Capital Acquisition Corp. marks a significant milestone for both companies, particularly for MKDWELL as it gains access to public markets. This move could potentially enhance MKDWELL's financial flexibility and provide new avenues for growth in the competitive automotive electronics sector.
Key points to consider:
- Market Access: MKDWELL's listing on Nasdaq (ticker: MKDW) opens up opportunities for increased visibility and potentially easier access to capital.
- Investor Confidence: The approval of the business combination by Cetus Capital's stockholders suggests a positive outlook on MKDWELL's prospects.
- Leadership Continuity: The retention of founder Ming-Chia Huang as CEO and Chairman indicates a commitment to maintaining the company's original vision and strategy.
- Governance Structure: The inclusion of three independent directors on the board suggests a focus on corporate governance best practices, which could appeal to institutional investors.
While this development is certainly positive for MKDWELL, investors should carefully monitor the company's post-merger performance and integration efforts. The automotive electronics industry is rapidly evolving and MKDWELL's ability to leverage its new public status for innovation and market expansion will be important for long-term success.
The merger between MKDWELL Tech Inc. and Cetus Capital presents an intriguing development in the automotive electronics landscape. As vehicles become increasingly sophisticated and connected, companies like MKDWELL are poised to play a important role in shaping the future of transportation technology.
Several factors warrant attention:
- Innovation Potential: With access to public market capital, MKDWELL may be better positioned to invest in R&D, potentially accelerating the development of cutting-edge automotive electronics solutions.
- Market Dynamics: The automotive industry is undergoing a significant transformation with the rise of electric vehicles and autonomous driving technologies. MKDWELL's public status could enhance its ability to form strategic partnerships and adapt to these changes.
- Competitive Landscape: As a public company, MKDWELL will face increased scrutiny and comparison to established players in the automotive electronics space. Its ability to differentiate its offerings and capture market share will be critical.
- Technological Integration: The success of automotive electronics manufacturers often hinges on their ability to seamlessly integrate their products with various vehicle systems. MKDWELL's performance in this area will be a key indicator of its long-term viability.
Investors should closely monitor MKDWELL's product roadmap and any announcements regarding technological advancements or partnerships in the coming months. These will be important indicators of the company's ability to leverage its new status for technological leadership in the automotive electronics sector.
New York, July 31, 2024 (GLOBE NEWSWIRE) -- MKDWELL Tech Inc. (“MKD” or the “Company”), an automotive electronics manufacturer, today announced the completion of its business combination (the “Business Combination”) with Cetus Capital Acquisition Corp. (“Cetus Capital”) on July 31, 2024. The listed company following the Business Combination is MKDWELL Tech Inc., and its ordinary shares and warrants will commence trading on the Nasdaq Stock Market (“Nasdaq”) under the ticker symbols “MKDW” and “MKDWW” respectively on August 1, 2024.
The announcement of the completion of the Business Combination comes after Cetus Capital’s stockholders voted to approve the transaction on July 9, 2024 and all remaining closing conditions were met. Official results of the vote are included in a current report on Form 8-K filed by Cetus Capital on July 10, 2024 with the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov.
More information about the transaction is available in the Company’s registration statement on Form F-4, as amended and supplemented, which includes Cetus Capital’s proxy statement and the Company’s prospectus in relation to the business combination, declared effective by the SEC on June 10, 2024.
Management
The Company will be led by its founder, Chief Executive Officer and Chairman of the Board, Ming-Chia Huang, along with Min-jie Cui as the Chief Financial Officer. The Board of the Company will include Executive Director Ming-Chao Huang, as well as Independent Directors Chih-Hsiang Tang, Chung-Yi Sun and Jung-Te Chang.
Advisors
Sichenzia Ross Ference Carmel LLP acted as legal counsel to MKDWELL Tech Inc. Pryor Cashman LLP acted as legal counsel to Cetus Capital. EF Hutton LLC acted as capital markets advisor to Cetus Capital.
About MKDWELL Tech Inc.
MKD, incorporated in the British Virgin Islands, operates primarily through its key subsidiaries: MKD Jiaxing Company and MKD Shanghai Company in Mainland China, and MKD Taiwan Company in Hsinchu, Taiwan. MKD Jiaxing Company was established in 2017 via an investment initiative by the Science and Technology City of Nanhu District, Jiaxing City, Zhejiang Province, China, aimed at fostering the microelectronics industry in the region. The company acquired land to construct a state-of-the-art research, development, and manufacturing facility, solidifying its presence in Jiaxing and the Yangtze River Delta.
Founded in 2006, MKD Taiwan Company is situated in the Hsinchu Science Park, a key nexus for Taiwan’s technological advancements and a pivotal center for the global semiconductor industry. MKD’s growth has been centered around automotive electronics, which remains a primary focus. MKD is a leading supplier of automotive electronic products for passenger cars, modified commercial vehicles, RVs, and logistics vehicles. MKD’s product portfolio includes intelligent RV control systems, LiDAR sensors, intelligent container control systems for logistics vehicles, and vehicle seat control systems. MKD offers both ODM and OEM customization services to its clients. MKD’s design center in the Hsinchu Science Park and manufacturing facility in the Jiaxing Science and Technology City enable MKD to provide comprehensive design, manufacturing, and supply solutions to its clients.
About Cetus Capital
Prior to the business combination, Cetus Capital was a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Management of Cetus Capital was led by Chung-Yi Sun, the Chairman of the Board and Chief Executive Officer.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the anticipated benefits of the business combination and listing, MKD’s ability to scale and grow its business, MKD’s competitive advantages and expected growth, MKD’s ability to source and retain talent, and MKD’s working capital following closing of the business combination, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of MKD’s management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause MKD’s actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. The forward-looking statements in this press release represent the views of the Company as of the date of this press release. Subsequent events and developments may cause those views to change. Except as may be required by law, the Company does not undertake any duty to update these forward-looking statements.
Contacts
Investor Relations
MKDWELL Tech Inc.
csr@mkd.com.tw
FAQ
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