KM QUAD Enters Merger Agreement with Quetta Acquisition Corporation
Deal News | Feb 14, 2025 | Globenewswire
KM QUAD, the parent company of Jiujiang Lida Technology Co., Ltd. in China, has announced a merger agreement with Quetta Acquisition Corporation, a Delaware-based SPAC, to form a new entity listed on Nasdaq. The deal involves the reincorporation of Quetta, merging into Quad Global Inc., a Cayman Islands entity, with KM QUAD becoming a wholly-owned subsidiary. Upon completion, current KM QUAD management will continue to lead the company. The transaction requires several regulatory and shareholder approvals, with completion dependent on conditions such as SEC review. The merger aims to leverage KM QUAD's expertise in automotive protective films and augment its growth prospects as a public company.
Sectors
- Automotive
- Manufacturing
- Mergers & Acquisitions
Geography
- China – KM QUAD, a significant entity in the merger, operates mainly in China.
- United States – Quetta Acquisition Corporation is a Delaware-incorporated company, and the transaction involves regulatory aspects in the U.S.
- Cayman Islands – KM QUAD is a Cayman Islands company, and the transaction includes incorporation in Cayman Islands as part of the merger process.
Industry
- Automotive – KM QUAD specializes in automotive protective films, making the automotive industry a core focus of the article.
- Manufacturing – The article discusses KM QUAD's role as a manufacturer of film products.
- Mergers & Acquisitions – The primary topic of the article is the merger agreement between KM QUAD and Quetta Acquisition Corporation, aligning it with M&A activities.
Financials
- 30 million ordinary shares – KM QUAD's shareholders will receive 30 million ordinary shares of Quad Global as part of the merger transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| KM QUAD | Target Company | Company | A Cayman Islands company that manufactures film products for automotive, construction, and battery industries. |
| Quetta Acquisition Corporation | Bidding Company | Company | A Delaware-incorporated SPAC that focuses on merging with or acquiring target businesses. |
| Quad Global Inc. | Resulting Entity | Company | A Cayman Islands exempted company formed as part of the merger structure. |
| Loeb & Loeb LLP | Legal Advisor to Quetta | Company | Provided legal advisory services for the merger transaction. |
| Chain Stone Capital Limited | Financial Advisor to KM QUAD | Company | Provided financial advisory services to KM QUAD for the merger transaction. |