(UPDATED) AlphaVest Acquisition Corp Announces Entering into a Merger Agreement with AMC Corporation

Company Overview - AlphaVest Acquisition Corp (ATMV) is a special purpose acquisition company that has entered into a Business Combination Agreement with AMC Corporation, a provider of native computer vision AI platforms [1][3] - AMC specializes in innovative smart security and consumer electronics solutions, including internet-connected smart home products and augmented reality wearable products [2][6] Business Combination Details - The transaction will be structured as a business combination with ATMV's wholly owned subsidiary, AV Merger Sub, resulting in AMC stockholders receiving shares of ATMV capital stock [1] - The merger has been approved by the boards of directors of both companies and is expected to close in the fourth quarter of 2024, pending regulatory and stockholder approvals [1][2] Management and Operations - Post-merger, the combined company will operate under the name AMC Corporation and will continue to be listed on NASDAQ with a new ticker symbol [2] - AMC's executive management team will lead the combined entity, focusing on expanding its Vision AI capabilities across various markets [3] Strategic Rationale - The merger is seen as a compelling opportunity to deliver stockholder value, providing ATMV investors with an equity stake in a pioneering Vision AI company that has established itself in the home security market [3]