Tristar Acquisition I in an 8-K said it lowered the consideration on its proposed merger with Helport ai to $335 million from the $350 million at deal announcement last month.
The parties also eliminated the earnout provision based on revenue targets next year and in 2025.
The target is an AI technology company specializing in providing intelligent products, solutions, and a digital platform to improve communication efficiency between businesses and their customers.
The transaction is expected to provide up to $130 million in gross proceeds from cash held in Tristar’s trust account (assuming no redemptions). The parties also intend to raise a new pipe investment of approximately $25 million.
Helport is registered in the British Virgin Islands with its operations based in singapore. Read more.
Source: Tristar Acquisition I Trims M Off Helport Deal
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- Source: https://spacfeed.com/tristar-acquisition-i-trims-15m-off-helport-deal
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