OceanLight Acquisition agrees to merge with AIRE in deal valuing target at $1 billion
OCLT•OceanLight Acquisition agreed to merge with AIRE in a two-step reorganization that values AIRE at $1 billion, implying 100 million closing payment shares at $10 each.
1. Merger structure and terms
OceanLight Acquisition Corporation will merge into a newly formed subsidiary, AIRE Global Group, which will remain publicly traded. AIRE will merge into a subsidiary of the public company and survive as a wholly owned unit. Closing is subject to shareholder votes, SEC effectiveness of a Form F-4 registration statement and Nasdaq approval for the new shares.
