HK Acquisition Corporation Eyes Prosperous Future with Synagistics Merger

HK Acquisition Corporation announces an Extraordinary General Meeting for 25 October 2024 to approve its merger with Synagistics, a leading digital solutions platform. The proposed business combination aims to elevate Synagistics' growth trajectory in Southeast Asia, backed by HK$551 million from PIPE investors.

HK Acquisition Corporation's Board of Directors has scheduled an Extraordinary General Meeting on 25 October 2024 to seek shareholder approval for its merger with Synagistics, a data-centric digital solutions provider in Southeast Asia. The business combination, first announced in June, represents a strategic move aimed at capitalizing on Synagistics' extensive market reach and growth potential.

The transaction has garnered significant investor interest, securing commitments amounting to HK$551 million from ten PIPE investors. According to the Independent Board Committee, which evaluated the proposal, the deal is 'fair and reasonable' and serves the best interests of all stakeholders. Consequently, the Committee has recommended that shareholders vote in favor of the resolutions during the EGM.

Valued at HK$3.5 billion, the business combination will transform Synagistics into a publicly traded subsidiary of HK Acquisition Corporation. The merger is expected to accelerate Synagistics' expansion efforts, enabling the company to fortify its brand partnerships and channel developments, leveraging strong economic growth and a youthful consumer base in Southeast Asia.

(With inputs from agencies.)