- Fuwei Films (Holdings) Co Ltd (NASDAQ:FFHL) has entered into a merger agreement with software solutions provider Baijiayun Limited, by which Baijiayun will merge with a wholly-owned subsidiary of Fuwei.
- Baijiayun will be the surviving entity, and the issued and outstanding share capital of Baijiayun will be canceled in exchange for newly issued shares of Fuwei.
- Upon completion of the deal, Baijiayun will become a wholly-owned subsidiary of Fuwei.
- The existing Baijiayun shareholders and existing Fuwei shareholders will own approximately 96.79% and 3.21%, respectively, of the outstanding shares of the combined company.
- The companies expect to complete the transaction in the fourth quarter of 2022.
- Price Action: FFHL shares are trading higher by 7.30% at $5.29 on the last check Monday.
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