Acri Capital Acquisition Corporation (Nasdaq: ACAC), a special purpose acquisition company (SPAC), has announced that its stockholders have approved the previously declared business combination with Foxx Development Inc. Foxx. This approval was granted at a special meeting held on August 27, 2024, where 96.9% of votes favored the merger. The transaction is expected to finalize within the next month, resulting in the combined entity being renamed Foxx Development Holdings Inc., set to trade on Nasdaq under the ticker symbols FOXX and FOXXW. Founded in 2017, Foxx Development is a U.S.-based consumer electronics and Internet-of-Things (IoT) solutions company, dealing with both retail and institutional clients. The merger aims to leverage Foxx’s robust R&D capabilities and strategic partnerships to expand its market presence.
Consumer Electronics, Internet-of-Things (IoT), Special Purpose Acquisition Company (SPAC),United States
https://mergersacquisitions.einnews.com/pr_news/738736806/acri-capital-acquisition-corporation-and-foxx-development-inc-announce-business-combination-approval-by-acri-capital-acquisition-corporation?ref=rss&ecode=Q1vNcweEggLWKz7L&utm_source=RSSNews&utm_medium=rss&utm_campaign=Mergers+%26+Acquisitions+News&utm_content=article