United Hydrogen Group to List on Nasdaq in Mega Merger with Aimei Health Technology
Key Ideas
- United Hydrogen Group to be listed on Nasdaq after SPAC merger with Aimei Health Technology, valued at USD1.6 billion.
- MagStone Law, Harneys, Yongxing Law Firm, HTFL, Ogier, and Grandall Law Firm advised on the transaction.
- The merger will be completed in Q3 of 2024, aiming to boost financial performance and expand business globally.
- United Hydrogen, a Shanghai-founded company, saw a significant revenue increase to USD13.1 million in 2023.
United Hydrogen Group is on the brink of being publicly traded on the Nasdaq following a strategic merger with Aimei Health Technology, facilitated through a SPAC agreement. The transaction, overseen by renowned law firms like MagStone, Harneys, and Yongxing, is set to finalize in the third quarter of 2024, with an estimated combined value of USD1.6 billion. This deal provides United Hydrogen an avenue to enhance financial growth and extend its operations across Southeast Asia, North America, Europe, and the Middle East. As a hydrogen solutions provider since 2017, the company specializes in energy production, storage, and transit solutions, achieving a remarkable revenue surge to USD13.1 million in 2023, signifying a 144% rise compared to the previous year.