Blueport to Merge with SingAuto in $1.2B Deal
Blueport Acquisition and SingAuto Inc ("SingAuto"), a company providing green cold-chain logistics technology solutions for smart commercial electric vehicles, announced that they have entered into a definitive business combination agreement. Upon consummation of the business combination of Blueport and SingAuto and related transactions contemplated by the Business Combination Agreement, a newly formed holding company for the purpose of the Proposed Transactions will be listed on The Nasdaq Stock Market. The closing of the Proposed Transactions is subject to customary closing conditions, including regulatory and shareholder approvals. Upon the closing of the Acquisition Merger, shareholders of SingAuto will receive approximately, 120,000,000 ordinary shares of PubCo, valued at $10.00 per share, based on the merger consideration of $1.2B. The Proposed Transactions have been unanimously approved by the boards of directors of both Blueport and SingAuto. The Proposed Transactions are expected to close by end of 2026.
