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AlphaVest Acquisition Corp (ATMVR) is a special purpose acquisition company (SPAC) focused on identifying strategic merger targets. This news hub provides investors with essential updates on corporate developments, regulatory filings, and market positioning.
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AlphaVest Acquisition Corp (NASDAQ: ATMV) has announced a merger agreement with AMC , a leading provider of native computer vision AI platforms. The transaction, structured as a business combination, is expected to close in Q4 2024, subject to regulatory and stockholder approvals. Upon completion, the combined company will operate as AMC and remain NASDAQ-listed under a new ticker symbol.
AMC specializes in smart security and consumer electronics solutions, including internet-connected smart home products and augmented reality wearables. The merger aims to provide ATMV investors with an equity stake in a pioneering Vision AI company established in the home security market and expanding into small to medium business use cases.
This announcement follows ATMV's termination of its previously announced business combination agreement with Wanshun Technology Industrial Group on March 13, 2024.
AlphaVest Acquisition Corp (NASDAQ: ATMV) has announced a merger agreement with AMC , a leading provider of native computer vision AI platforms. The transaction, valued at $175 million, is expected to close in Q4 2024, subject to regulatory and stockholder approvals. Upon completion, the combined company will operate as AMC and remain NASDAQ-listed under a new ticker symbol.
AMC specializes in smart security and consumer electronics solutions, including internet-connected smart home products and augmented reality wearables. The merger aims to capitalize on the growing business security market, leveraging AMC's Vision AI solutions. This business combination replaces ATMV's previously terminated agreement with Wanshun Technology Industrial Group
AlphaVest Acquisition Corp announced that underwriters exercised the full over-allotment option for its IPO, purchasing an additional 900,000 units at $10.00 per unit, raising a total of $69 million. Consequently, 6,900,000 units are now listed on Nasdaq under the symbol ‘ATMVU’. Each unit comprises one ordinary share and one right. The Company seeks to engage in business combinations, focusing on opportunities throughout Asia. EarlyBirdCapital, Inc. led the offering as sole bookrunner, with Revere Securities as co-manager.
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