Big Tree Cloud International Group Limited and Plutonian Acquisition entered into a definitive merger agreement at an initial equity value of approximately $500 million.
Founded in 2020, the target is engaged in the development, production and sales of personal care products and other consumer goods in China. Big Tree Cloud’s product portfolio places a strong emphasis on feminine hygiene products.
Plutonian raised $57.5 million in a November 2022 IPO.
Both parties also agreed to make their best reasonable efforts to obtain at least an additional $10 million in financing for the deal, according to an 8-K filing.
Paul Hastings, Commerce & Finance Law Offices and Maples Group are serving as legal counsel to Big Tree Cloud. Wilson Sonsini Goodrich & Rosati, and Global Law Office are serving as legal counsel to Plutonian. Read more.
