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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.
UY Scuti Acquisition Corp. (Nasdaq: UYSCU) announced that starting May 27, 2025, holders of its 5,750,000 units can begin separate trading of the underlying securities. Each unit consists of one ordinary share (par value $0.0001) and one right to receive one-fifth of a share upon completing an initial business combination. The separated components will trade under symbols "UYSC" (shares) and "UYSCR" (rights) on Nasdaq, while unseparated units continue trading as "UYSCU". The company is a Cayman Islands-based blank check company formed to effect mergers, acquisitions, or similar business combinations. Maxim Group LLC served as the sole book runner for the initial offering.
UY Scuti Acquisition Corp. (NASDAQ: UYSCU) has successfully completed its initial public offering (IPO), raising $50 million through the sale of 5,000,000 units at $10.00 per unit. Each unit comprises one ordinary share and one right to receive one-fifth of an ordinary share.
Trading commenced on NASDAQ Capital Market on March 31, 2025, under the symbol 'UYSCU'. The company's ordinary shares and rights will later trade separately under 'UYSC' and 'UYSCR' respectively. Maxim Group served as the sole book-running manager and has been granted a 45-day option to purchase up to 750,000 additional units to cover potential over-allotments.
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