Redwoods Acquisition Signs Agreement of Intent with Xin Bo Xing

Xin Bo Xing Group Limited signed an agreement of intent with Redwoods Acquisition. The target intends to get listed on the Nasdaq through a merger with Redwoods “in the near future,” and noted that several private funds will participate in a PIPE subscription.

Xinboxing is a new-material technology research and development company in Asia. It focuses on the research and development of precision casting technology mainly based on titanium and zirconium alloys, and provides customers with full chain services of research and development, design, production, and post maintenance through ODM mode. Its business scope covers aviation, shipping, chemical, medical, aerospace, marine, sports, civil hardware and other fields, which can meet the customization needs of different industries, different products, and different regional standards.

Xin Bo Xing has more than 100 national patents, and its customers are distributed in China, Malaysia, Indonesia, the Philippines, Vietnam, India and other major Asian countries and industrial cities.

Redwoods is focused on carbon neutral, energy storage and other new economic industries. The SPAC raised $115 milion in a March IPO. Read more.

Source: Redwoods Acquisition Signs Agreement of Intent with Xin Bo Xing