AlphaVest Acquisition Corp enters definitive merger with Wanshun Technology at $300M valuation

AMC Robotics Corp

Deal values Wanshun at $300M; Wanshun shareholders receive PubCo ordinary shares based on $10.00 per share.
Earnout provision: up to 400M additional PubCo shares if Wanshun achieves RMB 4.5B revenue target for 2023.
Closing conditions include at least $150M transaction financing and minimum $17.25M cash in PubCo trust account.
Sponsor AlphaVest Holding LP agrees to vote in favor; Wanshun shareholders enter lock-up agreement.
Termination fee of $12.075M payable by Wanshun to Sponsor in certain scenarios.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

AMC Robotics Corp entered into Business Combination Agreement with AlphaVest Acquisition Corp, AV Merger Sub, Wanshun Technology Industrial Group Limited (effective 2023-08-11).

Action: entry
Agreement: merger
Counterparty: AlphaVest Acquisition Corp, AV Merger Sub, Wanshun Technology Industrial Group Limited
Effective: 2023-08-11

Exact text from the filing

On August 11, 2023, AlphaVest Acquisition Corp, a Cayman Islands exempted company (prior to the Merger Effective Date (as defined below), “ AlphaVest ” and, at and after the Merger Effective Date, “ PubCo ”) entered into a business combination agreement (the “ Business Combination Agreement ”) with AV Merger Sub, a Cayman Islands exempted company and a direct wholly owned subsidiary of AlphaVest (“ Merger Sub ”), and Wanshun Technology Industrial Group Limited, a Cayman Islands exempted company (“ Wanshun ”).

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AMC Robotics Corp filing history →

Source: SEC EDGAR

accession 0001493152-23-029319

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