Big Tree Cloud Holdings today filed a Nasdaq notice with the SEC that it has been approved for listing on the exchange, following approval of a deal with Plutonian Acquisition.
Plutonian shareholders in April unanimously approved the merger, but redemptions removed about $35.4 million from the trust, leaving $172,348. The SPAC also had a private placement of nearly $2.7 million.
Both parties had agreed to make their best reasonable efforts to obtain at least an additional $10 million in financing for the deal.
The deal was announced last October at an equity value of $500 million.
Founded in 2020, Big Tree Cloud is engaged in the development, production and sales of personal care products and other consumer goods in China. Big Tree Cloud’s product portfolio places a strong emphasis on feminine hygiene products.
Plutonian raised $57.5 million in a November 2022 IPO. Read more.
Source: Big Tree Cloud Approved for Nasdaq Listing following Pultonian Acquisition Deal Approval