On January 30, 2023, Cheche Technology Inc. (Cheche Technology), China’s leading vehicle insurance coverage technology system, and also Prime Influence Procurement I (Prime Influence), an openly traded unique function procurement business, introduced that they have actually participated in a clear-cut contract for an organization mix in between Cheche Technology and also Prime Influence. Upon the conclusion of business mix, the mixed business, Cheche Team Inc., will certainly end up being an openly traded business on the Nasdaq Stock Exchange. Wilson Sonsini Goodrich & & Rosati stood for Cheche Technology in this deal.
Business mix, which offers Cheche Technology a pre-money equity worth of $760 million, is presently targeted to enclose the 3rd quarter of 2023. Business mix is anticipated to supply as much as around $68 million in gross earnings to Cheche Technology, thinking no additional redemptions by Prime Influence investors, and also the capacity for extra funding. Cheche Technology anticipates to make use of earnings from business mix to increase technology advancement and also brand-new market access, in addition to remain to buy development throughout existing markets.
The Wilson Sonsini group standing for Cheche Technology in this deal consists of:
Business
Dan Ouyang, Companion
Ke Li, Of Advice
Meichen Liu, Affiliate
Vincent (Zhonghan) Wang, Unique Affiliate
Tax Obligation
Myra Sutanto Shen, Companion
Han Shen, Affiliate
Regulative
Joshua Gruenspecht, Companion
To find out more, please see the joint news release from Cheche Technology and also Prime Influence.
