• HK Acquisition Corporation has announced an EGM date of 25 October 2024 to approve the proposed business combination with Synagistics announced on 28 June 2024.
  • The proposed business combination values Synagistics at HK$3.5 billion.
  • An Independent Board Committee has concluded that the proposal is "fair and reasonable" and recommends that independent shareholders vote in favor of the transaction.
  • If the transaction is approved and closes, it will represent the first successful De-SPAC transaction on the Hong Kong Stock Exchange since the implementation of new SPAC rules in 2022
  • The transaction is expected to close on 30 October 2024, at which time HK Acquisition Corporation will become Synagistics Limited and commence trading of its shares and warrants under that name on the Hong Kong Stock Exchange.
HONG KONG, Oct. 3, 2024 /PRNewswire/ -- The Board of Directors of HK Acquisition Corporation (the "Company", Stock Code: 7841.HK), a special purpose acquisition company (SPAC), today announced that it has called an Extraordinary General Meeting ("EGM") for 25 October 2024 to approve its proposed business combination (the "Business Combination") with Synagistics Pte. Ltd. ("Synagistics" or the "Target Company"), a data-driven digital solutions platform in Southeast Asia.

The Business Combination was first announced on 28 June 2024. The Company and Synagistics have secured investment commitments from ten PIPE investors for an aggregate amount of HK$551 million.

Register to unlock this article

Register to read this story and more for free.

Signing up for an account helps us improve your browsing experience.

Continue

OR

See our subscription options.

Already have an account? Log in here