Piermont Valley Acquisition Corp announces leadership changes and share transfer

Piermont Valley Acquisition Corp (OTC:CMCAU, (OTC:CMCAF), OTC:CMCAW), currently trading at $2 per share and carrying a market capitalization of $79.36 million, reported a change in control and board leadership on Friday, following a share purchase agreement executed on July 11, 2025. The stock has experienced significant pressure, dropping 81.65% over the past year. The information is based on a press release statement filed with the Securities and Exchange Commission.

According to the filing, Vikasati Partners LLC, the company’s sponsor, transferred 2,238,999 Class A ordinary shares and one Class B ordinary share to Valleypark Road, LLC. The agreement also included an amendment to a letter agreement from the company’s initial public offering and granted Valleypark Road, LLC the right to vote the shares retained by the sponsor. In addition, Vikasati Partners LLC and the company’s prior sponsor, CEMAC Sponsor LP, agreed to cancel a total of 11,700,000 private placement warrants purchased at the time of the IPO.

Following the transaction, the company will file an information statement with the SEC to notify shareholders of the change in control and upcoming changes to the board of directors. Valleypark Road, LLC will appoint additional directors to the board, effective ten days after the information statement is mailed to shareholders of record.

On July 11, 2025, several officers and directors resigned from their positions, including Suresh Guduru (Chief Executive Officer, Chairman, and Director), Brian Coad (Chief Financial Officer and Director), John Levy, Suresh Singamsetty, and Kishore Kondragunta (Directors). The company stated there were no disagreements between the company and any of the departing officers or directors regarding company operations, policies, or practices.

Wei Qian was appointed as Chairman, Chief Executive Officer, Chief Financial Officer, and Director of Piermont Valley Acquisition Corp, effective July 11, 2025. Mr. Qian has experience in climate technology investments, private equity, and venture capital, and previously served as Director of Capital Markets at Fusion Park, LLC. According to InvestingPro data, the company’s overall financial health score stands at 1.75, labeled as WEAK, presenting significant challenges for the incoming leadership team. Subscribers to InvestingPro can access additional insights and metrics to better understand the company’s financial position and growth prospects.

The company also reported amendments to its articles of incorporation and bylaws in connection with the transaction.

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