KYCH - Keyarch Acquisition ZOOZ Power enters into business combination agreement

2023-07-31 08:28:46 ET

• Power boosting solutions provider for the EV charging infrastructure market ZOOZ Power and the special purpose acquisition company Keyarch Acquisition ( NASDAQ: KYCH ) have entered into a business combination agreement.
• ZOOZ is expected to be publicly listed on Nasdaq after the transaction closes, but will remain listed on the Tel Aviv Stock Exchange.
• The merged company will continue to be called ZOOZ Power.
• The transaction is expected to close in Q4.
• The transaction values ZOOZ at an agreed equity value of up to $100M.
• KYCH shares were trading -1.14% pre-market.
• Source: Press Release

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