Pillsbury Advises HUTURE Ltd. In Entering into $1 Billion SPAC Merger with Aquaron Acquisition Corp.

Upon closing of the transactions contemplated under the merger agreement, HUTURE will be operated under a Cayman Islands holding entity—HUTURE Group Limited—and plans to trade on the Nasdaq Stock Market. The proposed transaction reflects an initial equity value of approximately $1 billion, at a price of $10.00 per share.

According to a press release, the parties said HUTURE shareholders will retain a majority of the outstanding shares of the combined business upon closing and HUTURE is entitled to designate all proposed directors for the combined company’s board.

To learn more about the transaction, click here, here and here.

The China-based Pillsbury deal team included Corporate partner Jia Yan, special counsel Tianze Ma and associates Devin Geng, Xunming Cui and Yanqiu Liu.