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Chenghe Acquisition II Co. Class A ( (CHEB) ) has issued an update.
On May 23, 2025, Chenghe Acquisition II Co. held an extraordinary general meeting where shareholders approved a Business Combination Agreement with Polibeli Group Ltd and Polibeli Merger One Limited. This agreement involves a merger where Chenghe Acquisition II Co. will become a wholly-owned subsidiary of Polibeli Group Ltd. The meeting also saw the approval of a Plan of Merger to be filed with the Cayman Islands’ Registrar of Companies. As part of the business combination, the company’s share capital will be restructured, and SPAC units will be converted into shares and warrants of the new company. The merger is expected to be completed by June 6, 2025, pending the satisfaction of closing conditions. A significant number of SPAC Class A shareholders opted to redeem their shares, resulting in approximately $88.6 million being withdrawn from the trust account.
More about Chenghe Acquisition II Co. Class A
Average Trading Volume: 99,330
Technical Sentiment Signal: Hold
Current Market Cap: $98.37M
For detailed information about CHEB stock, go to TipRanks’ Stock Analysis page.