MergerMay 15, 2026, 06:17 AM
Quartzsea to Merge with Eight Directions in $515M Deal
AI Summary
Quartzsea Acquisition Corporation (QSEA) has entered into a definitive Agreement and Plan of Merger with Eight Directions Technology Limited. The proposed transaction, which has been approved by both boards, implies a pre-money equity value of approximately $515 million for Eight Directions. Following the merger, Eight Directions Global Limited, a subsidiary of QSEA, will be the publicly traded company, with Eight Directions Technology Limited becoming its wholly-owned subsidiary. This merger aims to provide Eight Directions with public market access and resources for its next phase of growth in the disposable packaging sector.
Key Highlights
- Quartzsea Acquisition Corp (QSEA) entered into a definitive Merger Agreement with Eight Directions Technology Limited.
- The transaction implies a pre-money equity value of approximately $515,000,000 for Eight Directions Technology Limited.
- QSEA will merge with and into Eight Directions Global Limited (Purchaser), which will be the publicly listed company.
- Eight Directions Technology Limited will become a wholly-owned subsidiary of the Purchaser.
- The post-merger board of directors of Purchaser is expected to consist of five directors, with one designated by QSEA and four by Eight Directions.
- QSEA ordinary shares will convert automatically into one Purchaser Class A ordinary share.
- Eight Directions ordinary shares will be exchanged for Purchaser Class A or Class B ordinary shares, each valued at $10.00 per share.
- Eight Directions is a solution provider of customized disposable products, specializing in PET cups, lids, and packaging solutions.
Price Impact
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