W Straits Limited, a leading international fintech company, and Global Lights Acquisition Corp., a special purpose acquisition company whose securities are currently listed on The Nasdaq Stock Market LLC, announced an update regarding their ongoing negotiations for a definitive agreement in connection with a potential business combination.
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W Straits and GLAC previously entered into a non-binding letter of intent on November 22, 2024, expressing their mutual interest in pursuing a business combination. Since then, both parties have undertaken substantial efforts to advance negotiations and are working towards finalizing and executing a definitive business combination agreement. W Straits and GLAC anticipate reaching this milestone within the coming weeks.
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Completion of the proposed business combination between W Straits and GLAC remains subject to several conditions, including the completion of due diligence, the satisfaction of the conditions negotiated therein, and approval of the transaction by the board and shareholders of both W Straits and GLAC. Further details will be disclosed upon the finalization and execution of the definitive agreement. However, there can be no assurance that a definitive agreement will be entered into or that the proposed business combination will be consummated on the terms or timeframe currently contemplated, or at all.
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Source – PR Newswire
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