NEW YORK, May 26, 2023 (GLOBE NEWSWIRE) — Wave Sync Corp. (the “Company” or “Wave”) (OTC: WAYS) announced today that it has signed a letter of intent (the “LOI”). with Aiways Pacific Asia Inc., a target company (the “Target Company”), for a potential business combination (the “Acquisition”). The LOI is not a binding agreement and describes the intent and preliminary terms of the acquisition.
Under the terms of the LOI, Wave and the Target intend to enter into a definitive agreement under which Wave and the Target will be combined. As a condition of the Target Company completing the acquisition, the Company’s then board and officers will appoint new directors and new officers to replace them, as determined in writing by the Target Company, and resign at the same time.
Completion of the acquisition is subject to customary conditions, such as: B. Completing due diligence to the satisfaction of both Wave and the target company, negotiating a definitive agreement providing for the transaction, fulfilling the negotiated terms therein, and approving the transaction by Wave’s board of directors and shareholders and the Target Company and the fulfillment of the other conditions contained therein.
Accordingly, neither party can guarantee that the parties will successfully negotiate and enter into a definitive agreement or that the proposed transaction will be completed on the terms or timeframe currently contemplated, or at all.
participants in the tender
Wave and its directors and officers may be deemed participants in the solicitation of proxies in relation to the proposed transaction described herein under the rules of the SEC.
No offer or solicitation
This press release does not constitute a solicitation of any authority, consent or approval with respect to any securities or with respect to any business combination. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute any Selling securities in any state or jurisdiction in which such offer, solicitation or sale prior to registration or qualification would be unlawful under the securities laws of such jurisdiction. No offering of securities may be made except by means of a prospectus complying with the requirements of Section 10 of the Securities Act, 1933, as amended, or any exception thereto.
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About Wave Sync Corp.
Wave Sync Corp. is a Delaware company principally engaged in the commercial and industrial real estate business through its subsidiaries.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including the search for an initial business combination, are subject to risks and uncertainties that could cause actual results to differ from the forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control. The Company expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any of the forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which the statements are based. unless required by law.
Company contact:
Wave Sync Corp.
Jiang Hui
Telephone: +1(347) 205-3126
Contact for investors and media:
International Elite Capital Inc.
Annabelle Zhang
Phone: +1(646) 866-7989
Email: [email protected]
