Aesther Healthcare Acquisition has entered into a merger agreement with United Gear & Assembly, a manufacturer of high precision gears for electric vehicles and other developing industries.
If approved, upon closing United Gear will be a wholly-owned subsidiary of Aesther, which will be renamed EVGT LTD. Common stock and warrants are expected to list on the Nasdaq under the symbols EVGT and EVGTW.
No deal terms were mentioned in the news release.
Hudson, Wisconsin-based United Gear is a subsidiary of United Stars Holdings, which manufactures small to medium-size precision gears and shafts for industries.
Aesther raised $105 million in an IPO last September with plans to focus on the pharmaceutical and medical device sectors. Read more.
