Quartzsea Acquisition, Broadway Technology enter merger agreement

Broadway Technology announced the execution of an Agreement and Plan of Merger for a business combination with Quartzsea Acquisition (QSEA), a publicly traded special purpose acquisition company. Upon consummation of the transaction contemplated by the Merger Agreement, (i) Quartzsea will be merged with and into Cuisine Universal Packaging Solution, a Cayman Islands exempted company and wholly owned subsidiary of Quartzsea, and (ii) concurrently with the SPAC merger, CUPS Sub Limited, a Cayman Islands exempted company and wholly owned subsidiary of Cuisine Universal, will be merged with and into Gaokai, resulting in Gaokai being a wholly owned subsidiary of Cuisine Universal. Upon the closing of the Transaction, the combined company Cuisine Universal expects to be Nasdaq-listed under the ticker symbol “CUPS.”