MergerMay 13, 2026, 10:17 PM
Quartzsea to Merge with Eight Directions; Implied Value $515M
AI Summary
Quartzsea Acquisition Corp has entered into a definitive Agreement and Plan of Merger with Eight Directions Technology Limited, a provider of customized disposable products. The proposed transaction implies a pre-money equity value of approximately $515 million for Eight Directions. The merger will result in Purchaser, a subsidiary of Quartzsea, becoming the publicly traded company, with Eight Directions surviving as its wholly owned subsidiary. The transaction has been approved by both boards and is subject to regulatory and shareholder approvals.
Key Highlights
- Quartzsea Acquisition Corp entered a definitive merger agreement with Eight Directions Technology Limited.
- The Proposed Transaction implies a pre-money equity value of approximately $515 million for Eight Directions.
- Eight Directions is a solution provider of premium customized disposable products, specializing in PET cups, lids, and packaging.
- The merger structure involves Quartzsea merging into Purchaser, and Merger Sub merging into Eight Directions, with Purchaser becoming the publicly traded company.
- The transaction has been approved by the boards of directors of both Quartzsea and Eight Directions.
- Closing is subject to regulatory and shareholder approvals, and a registration statement being declared effective by the SEC.
- Celine & Partners, PLLC and Ogier are legal advisors to Quartzsea; Pryor Cashman LLP and Chain Stone Capital Limited are advisors to Eight Directions.