AlphaVest Acquisition announced the execution of a Business Combination Agreement with AMC Corporation on August 16, 2024. The transaction will be structured as a business combination with ATMV‘s wholly owned subsidiary, AV Merger Sub, and is anticipated to result in AMC stockholders receiving shares of ATMV capital stock valued at $175M. The transaction has been approved by the boards of directors of both ATMV and AMC and is expected to be consummated in the fourth quarter of 2024, subject to regulatory and stockholder approval by the stockholders of ATMV and the stockholders of AMC and the satisfaction of certain other customary closing conditions. AMC creates and distributes innovative, and smart security and consumer electronics solutions. It makes high quality internet connected smart home products and augmented reality wearable products that are accessible, affordable, and easy-to-use. Upon the closing of the Business Combination, the combined company is expected to operate under the name AMC Corporation and remain a NASDAQ-listed public company trading under a new ticker symbol. AMC’s executive management team will continue to lead the combined company. There can be no assurance that the combined company will remain listed on NASDAQ. As previously disclosed in a Form 8-K filed with the SEC, ATMV terminated its previously announced business combination agreement, dated as of August 11, 2023, with AV Merger Sub and Wanshun Technology Industrial Group Limited, effective as of March 13, 2024.