Golden Path Acquisition filed an S-4 outlining its merger deal with MC Hologram, a China-based company engaged in hologram technology.
If approved, the new company will be named MicroCloud Hologram.
The merger is structured as a stock-for-stock transaction and is intended to qualify as a tax-free reorganization.
Terms provide for a valuation of MC and its subsidiaries and businesses of $450 million. Based upon a per share value of $10.10 per share, MC stockholders will receive approximately 44,554,455 ordinary shares of Golden Path which will represent approximately 84.07% of the combined outstanding shares following the closing, assuming no redemptions by the Golden Path stockholders and assuming conversion of all Golden Path outstanding rights into 602,050 ordinary shares. Read more.