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Yunhong International (NASDAQ:ZGYH) announced the termination of its Share Exchange Agreement with Giga Carbon Neutrality Inc. due to the failure to consummate the Business Combination by the set deadline of July 30, 2021. This decision was communicated to the company on September 8, 2021. Yunhong remains focused on pursuing potential mergers or business combinations across various industries, particularly in the consumer and lifestyle sectors in Asia.
Yunhong International (NASDAQ:ZGYH) announced a deposit of $690,000 into its Trust Account, equating to $0.10 per public share. This funding extends the time to complete its initial business combination with Giga Carbon Neutrality Inc. by three months, now due on November 18, 2021. A definitive Share Exchange Agreement has been executed, allowing Yunhong to acquire GCN in exchange for newly issued shares. Post-combination, GCN will become a wholly-owned subsidiary, and Yunhong will rebrand as Giga Carbon Neutrality Ltd.
Yunhong International (NASDAQ:ZGYH) has signed a definitive share exchange agreement to acquire Giga Energy Inc., with a potential transaction value of approximately $7.354 billion. Under this agreement, Yunhong will exchange newly issued shares for all outstanding shares of Giga Energy. An equity investment from Harvest Tech Investment Management of $307.7 million has been secured by Giga Energy. Furthermore, Yunhong has deposited $690,000 into its trust account, extending the business combination deadline to August 18, 2021.
Yunhong International (NASDAQ:ZGYH) has deposited $690,000 into its Trust Account, allowing a three-month extension for its initial business combination until May 18, 2021. The company is in negotiations for a potential acquisition of a leading manufacturer of zero-emissions commercial vehicles, which offers electric and hydrogen fuel cell truck solutions. This target company aims to disrupt the global electric vehicle market, expecting to launch vehicles before the end of fiscal 2021. However, finalizing the deal is contingent on due diligence and shareholder approval.
