China's Big Tree Cloud in $500 million SPAC deal for US listing
© Reuters. The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. REUTERS/Jeenah Moon -U.S. blank-check firm Plutonian Acquisition Corp agreed to merge with Big Tree Cloud International Group for the Chinese personal care products company to go public in a deal that will value the combined enterprise at about $500 million.
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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