Quartzsea Acquisition to merge with Eight Directions in deal valuing target at $515 million

Quartzsea Acquisition Corporation

Quartzsea Acquisition Corporation

QSEA

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  • Eight Directions Technology entered merger agreement with Quartzsea Acquisition Corp., setting up combination that leaves Purchaser as publicly traded parent.
  • Structure calls for Quartzsea to merge into its wholly owned subsidiary, while separate merger sub merges into Eight Directions, which survives as wholly owned subsidiary of Purchaser.
  • Deal implies pre-money equity value of about USD 515 million for Eight Directions.
  • Eight Directions operates premium customized disposable-products business focused on PET cups, lids, related packaging, citing vertically integrated materials sourcing and automated production.
  • Closing remains subject to regulatory clearances, shareholder votes, SEC effectiveness of registration statement, Nasdaq approval for combined company listing.


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