W Straits Limited and Global Lights Acquisition Corp. Announce Letter of Intent for a Business Combination
Global Lights Acquisition Corp - Unit (GLACU)
Company Research
Source: PR Newswire
NEW YORK, Nov. 22, 2024 /PRNewswire/ -- W Straits Limited ("W Straits"), a leading international fintech company, and Global Lights Acquisition Corp. ("GLAC") (NASDAQ: GLAC, GLACR and GLACU), a special purpose acquisition company whose securities are currently listed on The Nasdaq Stock Market LLC, today announced the signing of a non-binding letter of intent for a potential business combination.Under the terms of the non-binding letter of intent, W Straits and GLAC would become a combined entity, with W Straits' existing shareholders exchanging their shares in W Straits for equity in the combined public company. W Straits and GLAC expect to finalize a definitive business combination agreement in the coming weeks and plan to announce additional details at that time.Completion of a business combination between W Straits and GLAC is subject to, among other things, the completion of due diligence, the negotiation of a definitive agreement providing for the transaction, the satisfaction o
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