Yunhong International and Giga Energy announce share exchange agreement with potential value of $7.35B

  • Yunhong International (ZGYHU) executes share exchange agreement, pursuant to which Giga Energy will be acquired by Yunhong and Giga Energy will be the surviving business.
  • The potential maximum value of this transaction is ~$7.354B.
  • Company also announced that an aggregate amount of $690,000 has been deposited into the company's trust account for its public shareholders, representing $0.10 per public share, which enables the company to extend the period of time it has to consummate its initial business combination by three months to August 18, 2021.
  • "This Exchange Agreement with Yunhong International is the next step in Giga Energy's plan to create its vision of the carbon neutral future. We expect the business combination with Yunhong International to help Giga Energy to continue the growth of its industrial and transportation solution business in Asia." said Ian Hanna, CEO of Giga Energy.

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