Aesther Healthcare Acquisition entered into a common stock purchase agreement with White Lion Capital that gives the SPAC the right to require White Lion to purchase up to $50 million in Class A common stock, according to a regulatory filing.
Aesther in May 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 would be a wholly-owned subsidiary of Aesther, which will be renamed EVGT LTD.
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. Read more.
