Distoken Acquisition and Youlife International sign merger agreement

Distoken Acquisition (DIST) and Youlife (YOUL) have entered into a definitive business combination agreement for a proposed business combination. Youlife and Distoken will merge with newly-formed subsidiaries of Youlife Group, a Cayman Islands exempted company, which will serve as the parent company of each of Youlife and Distoken following the consummation of the Business Combination. It is anticipated that the combined company will be listed on the Nasdaq Stock Market under the ticker symbol YOUL. The completion of the Business Combination is subject to regulatory approvals, the approval of the transaction by the shareholders of Distoken and Youlife, and the satisfaction or waiver of other customary closing conditions. Through the Business Combination, on the one hand, Distoken will provide strategic and resource support for the development of Youlife, help with Youlife’s business growth in the global market, and further consolidate and strengthen Youlife’s position in the blue-collar talent service field; on the other hand, Youlife believes that its planned listing in the U.S., in addition to creating a capital platform for its development and gaining the attention of investors in the international capital market, will further promote Youlife’s growth strategy.