Aesther (NASDAQ: AEHA) is a special purpose acquisition company (“SPAC”) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company recently announced its entry into an agreement and plan of merger (the “merger agreement”) with United Gear & Assembly Inc., a manufacturer of high precision gears for electric vehicles and other rapidly developing industries. Upon closing of the transaction, United Gear will be a wholly-owned subsidiary of Aesther, and Aesther will change its name to EVGT LTD, with its common stock and warrants expected to be listed on the Nasdaq, under the symbols EVGT and EVGTW, respectively. “We believe the combination of Aesther and United Gear will result in a profitable public company that provides a positive valuation with increasing revenue into a market category that has already demonstrated significant success with room for continued growth,” said Suren Ajjarapu, chairman and CEO of Aesther. “United Gear’s long-standing customer relationships, supply chain expertise, history of quality and precision, and U.S. headquarters and manufacturing facilities make it an attractive partner for our investors, and we look forward to collaborating to complete its entry into the public market. United Gear is a strategic U.S. asset that is capitalizing on the trends towards U.S. manufacturing reshoring.”
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About Aesther
Aesther is a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Its principals possess public and private market investing experience and operational knowledge to bring value added benefits to the target, including strong access to transformative technologies. The current management team, which has a diverse background, believes it can source, evaluate and transact with potential future acquisition targets, as well as the ability to step into management roles and/or operational support, if needed. The Aesther team has substantial experience investing in and operating businesses in multiple sectors, as well as a significant long-term track record in creatively structuring transactions to unlock and maximize value.
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