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Big Tree Cloud and Plutonian Announce Closing of Business Combination

Chinese personal care products maker Big Tree Cloud in $500m SPAC deal for US listing

Big Tree Cloud Enters into Definitive Merger Agreement with Plutonian Acquisition Corp (Nasdaq: PLTN) -October 10, 2023 at 08:56 pm EDT

China s Big Tree Cloud in $500 million SPAC deal for US listing

The transaction, valued at a price of $10 per share, is expected to be completed in the first half of 2024, pending procedures including approvals from the U.S. Securities and Exchange Commission and the Nasdaq Stock Market, the companies said in a joint statement on Tuesday. After the completion of the merger with the special purpose acquisition company, Big Tree Cloud International Group will be operated under a holding entity named Big Tree Cloud Holdings Ltd and listed on the Nasdaq Stock Market, according to the statement. Big Tree Cloud, based in the southern Chinese tech hub Shenzhen and founded in 2020, focuses on feminine hygiene products like sterilized feminine pads and menstrual pants.

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