Starry Sea Acquisition Corp. Identifies Target, Announces Binding Letter of Intent for a Business Combination with Forever Young International Limited.
Starry Sea Acquisition Corp. (NASDAQ: SSEA), a SPAC company, has signed a binding letter of intent to merge with Forever Young International Limited, a Chinese healthcare management services provider. The proposed business combination values Forever Young at $750-900 million pre-money equity value.
The transaction consideration will be paid in rollover equity through ordinary shares of the post-merger public entity, valued at $10 per share. Both parties have agreed to a 60-day exclusivity period, which may be extended under specific conditions.
Starry Sea Acquisition Corp. (NASDAQ: SSEA), una SPAC, ha firmato una lettera d'intenti vincolante per fondersi con Forever Young International Limited, fornitore cinese di servizi di gestione sanitaria. La prevista operazione di fusione assegna a Forever Young una valutazione pre-money compresa tra 750 e 900 milioni di dollari.
La parte considerata verrà pagata in equity rollover tramite azioni ordinarie della entità pubblica post-fusione, valutate 10 dollari per azione. Entrambe le parti hanno concordato un periodo di esclusività di 60 giorni, che può essere esteso secondo specifiche condizioni.
Starry Sea Acquisition Corp. (NASDAQ: SSEA), una SPAC, ha firmado una carta de intenciones vinculante para fusionarse con Forever Young International Limited, un proveedor chino de servicios de gestión sanitaria. La combinación de negocios propuesta valora a Forever Young en un valor de equidad pre-money de 750-900 millones de dólares.
La contraparte de la transacción se pagará en equity de rollover mediante acciones ordinarias de la entidad pública posterior a la fusión, valoradas en 10 dólares por acción. Ambas partes han acordado un periodo de exclusividad de 60 días, que puede prolongarse bajo condiciones específicas.
Starry Sea Acquisition Corp. (NASDAQ: SSEA), SPAC으로, 중국의 의료 관리 서비스 제공업체인 Forever Young International Limited와의 합병에 구속력 있는 의향서를 체결했습니다. 제안된 사업 결합은 Forever Young의 사전 자본 가치(pre-money equity value)를 7억에서 9억 달러로 평가합니다.
거래 대가는 합병 후 상장 법인의 보통주를 통한 롤오버 주식으로 지급되며, 주당 10달러로 평가됩니다. 양측은 특정 조건에 따라 연장될 수 있는 60일의 독점 기간에 합의했습니다.
Starry Sea Acquisition Corp. (NASDAQ: SSEA), une SPAC, a signé une lettre d'intention contraignante pour fusionner avec Forever Young International Limited, un prestataire chinois de services de gestion des soins de santé. La combinaison d'affaires proposée évalue Forever Young à une valeur d'équité pré-money de 750 à 900 millions de dollars.
La contrepartie de la transaction sera versée sous forme d'equity rollover par des actions ordinaires de l'entité publique post-fusion, évaluées à 10 dollars par action. Les deux parties ont convenu d'une période d'exclusivité de 60 jours, susceptible d'être prolongée sous certaines conditions.
Starry Sea Acquisition Corp. (NASDAQ: SSEA), eine SPAC, hat eine verbindliche Absichtserklärung zur Fusion mit Forever Young International Limited, einem chinesischen Anbieter von Gesundheitsmanagementdienstleistungen, unterzeichnet. Die vorgeschlagene Unternehmenszusammenführung bewertet Forever Young mit einem pre-money Eigenkapitalwert von 750–900 Mio. USD.
Die Transaktionsübernahme wird in Form von Roll-over-Eigenkapital durch Stammaktien der nach der Fusion börsennotierten Gesellschaft gezahlt, mit einem Wert von 10 USD pro Aktie. Beide Parteien haben eine 60-tägige Exklusivitätsphase vereinbart, die unter bestimmten Bedingungen verlängert werden kann.
Starry Sea Acquisition Corp. (NASDAQ: SSEA)، شركة SPAC، وقعت خطاب نوايا ملزم للاندماج مع Forever Young International Limited، مزود الخدمات الإدارية الصحية في الصين. قيمة الدمج المقترحة للأعمال تقيم Forever Young بمبلغ 750-900 مليون دولار كقيمة أسهم ما قبل التمويل.
سيتم دفع مقابل الصفقة عن طريق أسهم عادية من كيان ما بعد الاندماج في شكل رول-over، وتقدر قيمة السهم بـ10 دولارات للسهم. اتفقت الطرفان على فترة حصرية مدتها 60 يوماً، والتي يمكن تمديدها وفق شروط محددة.
Starry Sea Acquisition Corp. (NASDAQ: SSEA)，一家 SPAC 化公司，已签署具约束力的意向书，拟与 Forever Young International Limited，一家中国的医疗保健管理服务提供商，合并。拟议的业务整合将 Forever Young 的前钱股本价值定为 7.5—9亿美元。
交易对价将以合并后上市实体的普通股滚存股形式支付，股价定为 每股 10 美元。双方同意设定一个 60 天的排他期，在特定条件下可延长。
- Pre-money equity valuation of $750-900 million indicates significant business scale
- Binding LOI demonstrates commitment from both parties towards completing the merger
- Target company operates in the growing Chinese healthcare services sector
- SPAC merger subject to regulatory approvals in both US and China
- Valuation still subject to confirmatory due diligence
- Complex cross-border transaction structure may extend closing timeline
Insights
SSEA has signed a binding LOI to merge with Forever Young, valuing the Chinese healthcare company at $750-900M, representing a significant de-SPAC milestone.
Starry Sea Acquisition Corp (SSEA) has taken a significant step forward in its SPAC lifecycle by signing a binding letter of intent with Forever Young International Limited, a company providing management and support services to medical institutions in China. This binding LOI indicates substantial progress toward a definitive merger agreement, with both parties committing to negotiating final terms with "reasonable best efforts."
The proposed transaction values Forever Young at a pre-money equity valuation between
This binding LOI represents a crucial development for SSEA shareholders, as identifying a viable merger target is the primary objective of any SPAC. While this agreement doesn't guarantee a completed transaction, the binding nature of the LOI demonstrates mutual commitment and increases the probability of reaching a definitive agreement. The involvement of multiple specialized law firms – including those with expertise in U.S. securities law, PRC (Chinese) law, and Cayman Islands law – indicates the cross-border complexity of this transaction and suggests serious preparation for regulatory review across multiple jurisdictions.
~ Binding Letter of Intent Represents Confidence Towards De-SPAC Transaction ~
The Transaction
SSEA and Forever Young have agreed to use reasonable best efforts to negotiate and execute a definitive agreement as soon as practicable.
Pursuant to the LOI, the parties contemplate that the pre-money equity value ascribed to Forever Young will be in the range of approximately
The parties have agreed to a sixty (60) day period of mutual exclusivity, which may be extended under certain conditions as specified in the LOI.
Advisors
SSEA is being represented by Torres & Zheng at Law, P.C. with respect to certain legal matters as to
About Starry Sea Acquisition Corp.
Starry Sea Acquisition Corp. (Nasdaq: SSEAU, SSEA, SSEAR) is a blank check company incorporated as an exempted company in the
About Forever Young International Limited.
Forever Young is a health industry company in
Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks, uncertainties, and assumptions that are difficult to predict. All statements other than statements of historical fact contained in this release, including statements regarding the proposed business combination, the negotiation of a definitive agreement, future events, our future financial performance, business strategy, and plans and objectives of management for future operations, are forward-looking statements. SSEA has attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," or "should," or the negative of these terms or other comparable terminology. The forward-looking statements made herein are based on SSEA's and Forever Young's current expectations. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, the ability of the parties to enter into a definitive agreement and satisfy the closing conditions, its limited operating history, competitive factors in Forever Young's industry and market, and other general economic conditions. The forward-looking statements made herein are based on SSEA's and Forever Young's current expectations, assumptions, and projections, which could be incorrect. The forward-looking statements made herein speak only as of the date of this release and SSEA undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
Additional Information and Where to Find It
If a definitive agreement is entered into in connection with the proposed transaction, SSEA will prepare a proxy statement (the "Proxy Statement") to be filed with the United States Securities and Exchange Commission (the "SEC") and mailed to its stockholders. SSEA urges its investors and other interested persons to read, when available, the Proxy Statement, as well as other documents filed with the SEC, because these documents will contain important information about the proposed transaction. The Proxy Statement, once available, can be obtained, without charge, at the SEC's website (http://www.sec.gov).
No Offer or Solicitation
This release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of any business combination. This release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended.
Participants in the Solicitation
SSEA and certain of its respective directors and executive officers may be deemed to be participants in the solicitation of proxies from SSEA's stockholders, in favor of the approval of the proposed transaction related matters. Information regarding SSEA's directors and executive officers is contained in the section of SSEA's Form S-1 titled "Management", which went effective with the SEC on August 7, 2025. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the Proxy Statement and other relevant documents filed with the SEC when they become available.
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