In a merger that will value the combined company at around $500 million, Chinese personal care goods manufacturer Big Tree Cloud International Group and U.S. blank-check company Plutonian Acquisition Corp have agreed to merge.
According to a joint statement released by the firms on Tuesday, the $10 per share deal is anticipated to close in the first half of 2024, subject to regulatory approvals from the Nasdaq Stock Market and the U.S. Securities and Exchange Commission.
According to the announcement, Big Tree Cloud International Group will be managed by a holding company called Big Tree Cloud Holdings Ltd and listed on the Nasdaq Stock Market following the conclusion of the merger with the special purpose acquisition business.
The announcement also stated that working capital and general company objectives will be funded by the transaction’s revenues.
“The proposed business combination with Plutonian Acquisition will enable us to accelerate our effort of accomplishing our mission of offering premium personal care products to consumers and expanding our product portfolio beyond feminine care,” Wenquan Zhu, the founder of Big Tree Cloud,
About Plutonian Acquisition Corp
Plutonian Acquisition Corp. is a Delaware corporation established as a “blank check” firm with the intention of combining with one or more companies or entities through a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganisation, or other similar business combination. For the purpose of consummating an initial business combination, the Company is not restricted to a specific industry or geographical area, though it intends to concentrate its search for a target business on firms active in the Asia-Pacific, or APAC, region’s related tourism, e-commerce, and metaverse technologies sectors. Wei Kwang Ng, the company’s chief executive officer, chairman, and president, and Ke Wang, its chief financial officer, are in charge of running the business.
About Big Tree Cloud
Big Tree Cloud is a consumer-focused, mission-driven, and technology-enabled business devoted to the creation, manufacturing, and distribution of consumer goods in China. Big Tree Cloud, a 2020 startup, is dedicated to providing top-notch goods that meet the demands of contemporary, independent, and health-conscious customers. Big Tree Cloud stands out from the competition in the personal care business thanks to its unique strategy and committed community involvement.
With its sterilised feminine pads and menstrual trousers, Big Tree Cloud’s product line strongly emphasises feminine hygiene items. The company is aware of the growing awareness among Chinese consumers who are concerned about their health and look for feminine hygiene products that are high-quality, comfortable, hygienic, and functional. Through cutting-edge sterilising technology, sophisticated absorbent core structures, and anti-leakage designs, Big Tree Cloud has established itself as a pioneer in addressing these objectives. All of these features were created with the goal of increasing customer happiness. The Company’s comprehensive business strategy, which covers R&D, production, and marketing, enables it to provide customers with a full selection of high-quality products.