GTAC signs $428M all-stock merger with Chinese art marketplace Tyfon Culture

Global Technology Acquisition Corp. I

Consideration of $428M plus up to $2M in expenses, paid entirely in stock at $10.00 per share.
Tyfon Culture is a Chinese art marketplace with an offline-to-online business model.
Post-merger entity will rename to Tyfon Culture Inc. and trade on Nasdaq under 'TFCI'.
Sponsor HCG Opportunity agrees to vote for deal, not redeem shares, and forfeit warrants.
Closing subject to shareholder approvals, SEC effectiveness, CSRC filing, Nasdaq listing; termination date Dec 31, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Global Technology Acquisition Corp. I entered into Merger Agreement with Tyfon Culture Holdings Limited valued at $428.0 million (effective 2024-05-14).

Action: entry
Agreement: merger
Counterparty: Tyfon Culture Holdings Limited
Value: $428.0 million
Effective: 2024-05-14

Exact text from the filing

On May 14, 2024, Global Technology Acquisition Corp. I, a Cayman Islands exempted company limited by shares (“ GTAC ”), entered into a Business Combination and Merger Agreement (the “ Merger Agreement ”) with Global Technology Merger Sub Corporation, a Cayman Islands exempted company limited by shares and a direct, wholly owned subsidiary of GTAC (“ Merger Sub ”), and Tyfon Culture Holdings Limited, a Cayman Islands exempted company limited by shares (the “ Company ”).

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Source: SEC EDGAR

accession 0001493152-24-019458

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