Starry Sea Acquisition Corp. Identifies Target, Announces Binding Letter of Intent for a Business Combination with Forever Young International Limited.

Core Viewpoint - Starry Sea Acquisition Corp. (SSEA) has signed a binding letter of intent (LOI) for a proposed business combination with Forever Young International Limited, a health industry company in China, indicating confidence in the de-SPAC transaction [1][3]. Transaction Details - SSEA and Forever Young aim to negotiate and execute a definitive agreement as soon as practicable [2]. - The pre-money equity value for Forever Young is estimated to be between USD 750 million and USD 900 million, pending due diligence [3]. - The transaction consideration will include rollover equity for Forever Young's shareholders, valued at $10 per share in the post-closing publicly-listed entity [3]. - A mutual exclusivity period of 60 days has been agreed upon, which may be extended under certain conditions [4]. Company Profiles - Starry Sea Acquisition Corp. is a blank check company incorporated in the Cayman Islands, focused on mergers and business combinations [6]. - Forever Young International Limited provides management and support services to medical institutions in China, aiming to enhance the standardization and quality of primary healthcare services [7].