Chenghe Acquisition in an 8-K said it is still working to satisfy the closing conditions for its merger with Taiwan Color Optics — a deal the SPAC’s shareholders approved earlier this week. Those conditions include securing approval for a Nasdaq listing, the SPAC said. Chenghe has a March 2 deadline for getting the deal across the goal line.
Redemptions ahead of the merger vote removed just over $90 million from the trust. Chenghe originally raised $100 million in an April 2022 IPO to focus on financial technology or technology-enabled financial service companies, including artificial intelligence, big data, cloud and blockchain-related initiatives in Asian markets.
The parties had agreed to waive lock-up provisions and the closing equity Chenghe had been expected to receive.
Founded in 2009, TCO is an optical 3D sensing technology company that is primarily involved in the design, manufacture and sale of laser light source modules and integration chips. Read more.
