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Isdera Group Limited has announced a significant merger agreement with UY Scuti Acquisition Corp. (NASDAQ: UYSC). The transaction involves a complex business combination where UYSC will merge with Isdera Inc, and Isdera Technology Limited will merge with Isdera Group, resulting in Isdera Group becoming a wholly-owned subsidiary of Isdera Inc.
Isdera Group is an industrial automotive enterprise based in China that owns the iconic German supercar brand ISDERA. The company focuses on ultra-luxury supercars, with plans to expand into both combustion-engine and electric vehicle segments. The combined company expects to list on the Nasdaq Capital Market under a new ticker symbol following the transaction's completion.
The merger agreement includes a 180-day lock-up period for certain Isdera Group shareholders and requires various approvals, including regulatory clearance, shareholder approval, and SEC registration effectiveness.
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