Lakeshore SPAC to Merge with CPRO at $326M Valuation and $185M Equity
LCCC•Lakeshore Acquisition III Corp will merge with CPRO Electronics Holding Limited to form CPRO Holding Limited, generating an implied pro-forma enterprise value of $326 million. The SPAC deal will issue $185 million in shares to CPRO shareholders and is projected to close in Q4 2026.
1. Merger Agreement Details
Lakeshore Acquisition III Corp will merge with CPRO Electronics Holding Limited via a business combination in which CPRO will survive as the operating entity under the name CPRO Holding Limited, with Lakeshore acquiring 100% of CPRO’s equity.
2. Valuation and Deal Consideration
The combined company carries an implied pro-forma enterprise value of approximately $326 million, and CPRO shareholders will receive an aggregate $185 million in ordinary shares, subject to closing adjustments for indebtedness.
3. Timeline and Closing Conditions
The transaction has board approvals from both companies and awaits shareholder votes, a Form F-4 registration statement declaration by the SEC, and is expected to close in the fourth quarter of 2026.
4. Growth and Market Expansion
Post-merger CPRO Holding Limited plans to leverage its Edge AI camera technology across U.S., Asian, and other markets to drive growth in AI-based security and retail analytics solutions.
