Wanshun Technology Industrial Group Limited cancelled the acquisition of AlphaVest Acquisition Corp from AlphaVest Holding LP, Peace Capital Limited, Wealthspring Capital LLC and others in a reverse merger transaction.
The transaction has been approved by the boards of directors of both ATMV and Wanshun and is expected to be consummated in the fourth quarter of 2023 or early 2024, subject to regulatory approval and respective stockholder approval by the stockholders of ATMV and the stockholders of Wanshun and the satisfaction of certain other customary closing conditions. Mike Blankenship and Dean Hinderliter of Winston & Strawn is serving as legal advisor to ATMV. Jun He Law Offices LLC is serving as legal advisor to Wanshun. Small Seashell Limited is serving as financial advisor to ATMV. Yingke Law Firm acted as a legal advisor to Wanshun Technology Industrial Group Limited. Continental Stock Transfer & Trust Company acted as transfer agent to AlphaVest. Revere Securities LLC acted as fairness opinion provider to AlphaVest.
Wanshun Technology Industrial Group Limited cancelled the acquisition of AlphaVest Acquisition Corp (NasdaqGM:ATMV) from AlphaVest Holding LP, Peace Capital Limited, Wealthspring Capital LLC and others in a reverse merger transaction on March 18, 2024. Pursuant to Section 8.2(b) of the Business Combination Agreement, Wanshun shall remit a termination fee to Sponsor as soon as reasonably practicable. The Company intends to continue to pursue a business combination.