On January 30, 2023, Cheche Know-how Inc. (Cheche Know-how), China’s main auto insurance coverage know-how platform, and Prime Impression Acquisition I (Prime Impression), a public particular function acquisition firm, will lastly introduced that it had signed a contract. Enterprise integration of Cheche Know-how and Prime Impression. Upon completion of the enterprise mixture, the mixed firm, Cheche Group Inc., will change into a public firm on his Nasdaq inventory trade. Wilson Sonsini Goodrich & Rosati represented Cheche Know-how within the transaction.
The enterprise mixture, which can give Cheche Know-how $760 million in pre-money fairness worth, is at present focused for completion within the third quarter of 2023. There will probably be no additional redemptions by Prime Impression shareholders and extra funding potential. Cheche Know-how expects to make use of the proceeds from the enterprise mixture to speed up know-how growth and entry into new markets, and to proceed to spend money on development throughout present markets.
The Wilson Sonsini crew representing Cheche Know-how on this transaction contains:
Kee LeeOf Counsel
Maychen Liucompanion, colleague
Vincent (Zhonghan) WangParticular Affiliate
Myra Stunt ShenAccomplice
Han Shencompanion, colleague
See Joints for extra data. Press release From Cheche Know-how and Prime Impression.