Taiwan-based Femco Steel Technology said its board approved a potential business combination with Chenghe Acquisition I (formerly LatAmGrowth SPAC). The target manufactures golf clubs.
Femco said the possible deal represents a stratregic move and, if approved, the company would delist from the Taipei stock exchange to a US exchange.
The 8-K announcing the potential deal does not include any valuation or other transaction information.
Chenge I in October acquired the spponsorship stake of the former LatAmGrowth and secured shareholder approval for an extension up to October 2024. Redemptions totalling approximately $18.1 million left $43 million in trust. Read more.
