2023-06-15 08:40:04 ET
- Special purpose acquisition company Canna-Global Acquisition ( NASDAQ: CNGL ) is set to merge with the Sydney-based fintech company New Quantum Holdings in a business combination that values the later at a pro forma enterprise value of $800M.
- CNGL has signed a definitive bid implementation and business acquisition agreement with New Quantum.
- New Quantum is expected to be listed on the Nasdaq Global Market under the ticker symbol NQH.
- The combined entities will have AUD20B in committed funds under management and a qualified additional pipeline of AUD80B.
- The business combination expected to close in Q2, and the proposed transaction is expected to close by Q4.
- New Quantum will continue to be led by its CEO Jong Chung after the transaction.
- Source: Press Release
For further details see:
Canna-Global Acquisition to merge with fintech company New Quantum