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HZJL Cayman Limited Announces Entering into a Merger Agreement with Rising Dragon Acquisition Corporation
Rising Dragon Acquisition Corp.Rising Dragon Acquisition Corp.(US:RDACU) GlobeNewswire News Roomยท2025-01-27 21:00

Core Viewpoint - HZJL Cayman Limited is set to merge with Rising Dragon Acquisition Corporation, creating a new entity listed on Nasdaq, aimed at empowering local businesses through innovative branding, software, and supply chain services [1][2][6]. Company Overview - HZJL is a comprehensive solution provider focused on enhancing local lifestyle businesses such as restaurants, coffee shops, and beauty salons through online branding, software applications, and supply chain services [3][4][13]. - The company's core service is its online branding service, which utilizes social media to build strong identities for businesses, enhancing visibility and customer loyalty [4][13]. - HZJL aims to drive scalable growth for business owners by combining technology, customer service, and operational excellence [5][13]. Transaction Details - The merger will result in HZJL becoming a wholly owned subsidiary of Xpand Boom Technology, which will be listed on the Nasdaq Capital Market [2][6]. - HZJL's shareholders will receive 35 million ordinary shares of Xpand Boom Technology, with the potential for an additional 20 million shares based on revenue targets over the next two years [6][7]. - The transaction has been unanimously approved by the boards of both companies and is subject to regulatory approvals and shareholder votes [7]. Management Comments - The CEO of RDAC expressed excitement about the merger and confidence in HZJL's management team, highlighting the shared vision for market growth [9]. - HZJL's founder emphasized the company's commitment to delivering innovative solutions that address the challenges faced by small and medium-sized enterprises [10].