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NEW YORK - Cayson Acquisition Corp (NASDAQ:CAPN), currently valued at $80.81 million and trading near its 52-week high of $10.49, announced today it has entered into a definitive merger agreement with Mango Financial Limited, a Hong Kong-based boutique investment bank founded in 1970. According to InvestingPro data, the stock has delivered a 3.72% return over the past year.
Upon closing, Cayson will become a wholly owned subsidiary of Mango Financial Group Limited, with the combined company’s securities expected to be listed on Nasdaq, according to a company press release. InvestingPro analysis shows Cayson maintains a strong liquidity position with a current ratio of 5.77, indicating robust financial stability heading into the merger.
Mango Financial, which holds comprehensive Hong Kong Securities and Futures Commission licenses, offers investment banking, financial advisory, asset management, and securities services. The firm has advised on more than 160 public listings worldwide over its five-decade history.
Under the terms of the agreement, Mango Group’s existing shareholders are expected to own 30 million ordinary shares valued at $300 million, with potential for an additional 4 million shares based on meeting income targets for fiscal years 2025 and 2026.
Cayson’s public shareholders would own 6.6 million Mango Group shares, while Cayson’s initial shareholders would hold 1.85 million shares, assuming no redemptions of Cayson ordinary shares.
The companies also plan to pursue private placement commitments of up to $5 million in equity securities.
"Our business combination with Cayson will mark a pivotal step in Mango’s global expansion, giving us direct access to the U.S. capital markets," said Angela Zhang, Chairwoman of Mango Financial Limited.
Yawei Cao, Chairman and CEO of Cayson, noted that Mango’s "long-term operating history, full SFC licensing, and strong footprint in Asia make it an ideal business combination partner."
The transaction, unanimously approved by both companies’ boards, requires approval from Cayson shareholders and Hong Kong regulators. The deal is expected to close in the second half of 2025. InvestingPro analysis indicates the stock is currently trading slightly below its Fair Value, with additional insights and exclusive financial metrics available to subscribers. The platform offers over 10 additional ProTips and detailed financial analysis tools to help investors make informed decisions about this merger.
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