China’s Big Tree Cloud in $500 mln SPAC deal for US listing
Plutonian Acquisition Corp, a prominent blank-check firm based in the United States, has recently announced its agreement to merge with Big Tree Cloud International Group, a Chinese company specializing in personal care products. This strategic move will allow Big Tree Cloud to go public, with the combined enterprise estimated to be valued at approximately $500 million.
The merger, set to be finalized in the first half of 2024, is subject to various procedures, including approvals from the U.S. Securities and Exchange Commission and the Nasdaq Stock Market. Upon completion, Big Tree Cloud International Group will operate under a new holding entity called Big Tree Cloud Holdings Ltd and will be listed on the Nasdaq Stock Market.
The collaboration between Plutonian Acquisition Corp and Big Tree Cloud International Group marks an exciting milestone for both companies. By joining forces, they aim to further expand their reach and offer premium personal care products to consumers worldwide. Big Tree Cloud, founded in 2020 and headquartered in the thriving tech hub of Shenzhen, focuses primarily on feminine hygiene products such as sterilized feminine pads and menstrual pants.
Wenquan Zhu, the visionary founder of Big Tree Cloud, expressed enthusiasm about the proposed business combination with Plutonian Acquisition. He believes that this partnership will accelerate their mission of providing top-notch personal care products to consumers while also allowing them to diversify their product portfolio beyond feminine care.
The proceeds generated from this transaction will be allocated towards working capital and general corporate purposes, ensuring the continued growth and development of Big Tree Cloud International Group. This infusion of capital will undoubtedly bolster their ability to innovate and meet the evolving demands of their discerning customer base.
Both Plutonian Acquisition Corp and Big Tree Cloud International Group are poised to benefit greatly from this merger. Plutonian Acquisition Corp, known for its expertise in identifying promising investment opportunities, has recognized the immense potential of Big Tree Cloud and its commitment to delivering high-quality personal care products. This partnership will enable Plutonian Acquisition Corp to expand its portfolio and tap into the rapidly growing market for personal care products in China and beyond.
With its strong foothold in the Chinese market and a reputation for excellence, Big Tree Cloud International Group is well-positioned to capitalize on the opportunities that arise from going public. The listing on the Nasdaq Stock Market will provide the company with increased visibility and access to a broader investor base, further fueling its growth trajectory.
As the merger progresses, both Plutonian Acquisition Corp and Big Tree Cloud International Group are confident that their combined expertise and resources will pave the way for continued success. This collaboration represents a significant step forward in their shared mission to enhance the lives of consumers through innovative and premium personal care products.
In conclusion, the merger between Plutonian Acquisition Corp and Big Tree Cloud International Group heralds a new chapter for the Chinese personal care products company. With the backing of Plutonian Acquisition Corp and the opportunity to go public, Big Tree Cloud is poised for remarkable growth and expansion. This partnership will undoubtedly propel them towards achieving their mission of providing exceptional personal care products to consumers worldwide.