TAIPEI, February 15, 2024 (GLOBE NEWSWIRE) — Chenghe Acquisition Co. (“Chenghe”), a special purpose acquisition company, today announced its previously announced business combination with Taiwan Color Corporation (the “Business Combination”). ) was announced. Optics, Inc. (“TCO”), his Taiwan-based LiDAR and ADB components and solutions provider, and its newly formed holding company, Semilux International Ltd. (“Semilux”), is based in the Cayman Islands. We are a limited liability exempt company. Semilux International Ltd.'s common stock is expected to begin trading on the Nasdaq Capital Market on February 16, 2024 under the ticker symbol “SELX.” The Business Integration was approved at the special general meeting of Chenghe shareholders on February 2, 2024. Upon completion of the business combination, trading in Chenghe's Class A common stock and units will cease.
“We are pleased to announce the completion of the business combination, and would like to express our sincere gratitude to all of our stakeholders for their support during this process,” said Chairman of the Board, Director and Co-Managing Partner. said Dr. Yung-Peng Chang. CEO of Semilux. “For 14 years, TCO has been providing laser modules and components to a variety of sectors. Today, we are evolving our LiDAR and ADB technologies to capitalize on the autonomous vehicle market and meet the industry's growing demand for safety standards. The completion of this business combination is expected to strengthen our global brand and expand our U.S. customer base. Semilux looks forward to seizing market opportunities through partnerships with major OEMs and Tier-1s. We are enthusiastic about leveraging Taiwan's semiconductor ecosystem to deliver high-quality, cost-effective products globally, driving growth and delivering sustainable shareholder value.”
Richard Qi Li, Chairman of Chenghe Acquisition Co., said: “We are excited to have completed the business integration between TCO and Semilux, and are excited about further technological advancements and Semilux's transformational impact on the self-driving vehicle market. I look forward to seeing the impact.” With our LiDAR and ADB solutions and strong partnerships with the world's leading OEMs and Tier-1 suppliers, we believe we are well-positioned to continue to grow our business and deliver sustainable shareholder returns. We are excited about future opportunities and look forward to working with Semilux as it begins its journey as a public company. ”
advisor
Ogier and Ross Law Group, PLLC served as legal advisor to Semilux. Cohen & Company Capital Markets, a division of JVB Financial Group, LLC, serves as financial advisor and lead capital markets advisor to Chenghe Acquisition Co. White & Case, Lee and Li, Maples and Calder (Hong Kong) ) LLP acted as legal advisor to Chenghe. Landi Law Firm served as legal advisor to TCO.
About Semilux International Ltd. and Taiwan Color Optics, Inc.
Semilux is headquartered in the Cayman Islands and operates through its subsidiary TCO and Semilux Ltd., a Cayman Islands limited liability exempt company. TCO is an optical and 3D sensing technology company primarily involved in customizing, designing, and supplying optical components and integrated chips for various industries including autonomous driving, intelligent lighting, and unmanned aerial vehicles. TCO works with clients to conceptualize and manufacture high-precision optical and sensing modules specifically customized to the client's needs to facilitate integration into the overall design and manufacturing. Masu. Applications of TCO products include automotive laser headlight systems, adaptive driving beams (ADB), and light detection and autonomous driving systems (LiDAR). For more information, please visit: http://www.semilux.com.
About Seikawa Acquisition Co., Ltd.
Chenghe is registered as a Cayman Islands limited liability exempt company for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more companies on April 7, 2021 It is a blank check company founded in
Prohibition of offers and solicitations
This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, and does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities in any jurisdiction in which such offer, sale or exchange would be unlawful. You may also not sell securities. It does not apply to registration or qualification under the securities laws of any such jurisdiction.
Forward-looking statements
This press release contains certain oral statements from representatives of Chenghe, TCO, Semilux and their respective affiliates that constitute forward-looking statements within the meaning of the “safe harbor” provisions for privately placed securities. ” may be included. Litigation Reform Act of 1995. Chenghe, TCO and Semilux's actual results may differ from their expectations, estimates and projections, and these forward-looking statements should not be relied upon as predictions of future events. “expect”, “estimate”, “plan”, “budget”, “predict”, “anticipate”, “intend”, “project”, “may”, “will” Words such as “could,” “should,” “believe,” “anticipate,” “could,” “might,” “continue,” and similar expressions For the purpose of identifying forward-looking statements. These forward-looking statements include, among other things, including, but not limited to, statements regarding the ability to provide investors and the other risks described under the heading “Risk Factors” in Semilux's definitive proxy statement/prospectus filed with the Securities and Exchange Commission (the “SEC”) on January 12, 2024; Other risks include risks Semilux and Chenghe's future SEC filings; These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from anticipated results. Most of these factors are beyond Semilux, Chenghe and/or TCO's control and are difficult to predict. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, actual results may differ from those indicated or anticipated by such forward-looking statements. The results may differ significantly from those shown. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. Chenghe, Semilux and TCO each undertake no obligation to update forward-looking statements to reflect events or circumstances after the date on which they are made, except as required by law or applicable regulation.
For investor and media inquiries, please contact:
Semilux International Co., Ltd.
Investor Information Department
Email: IR@semilux.com
Seikawa Acquisition Co., Ltd.
38 Beach Road #29-11
south beach tower
singapore 189767
Ascent Investor Relations LLC
Tina Hsiao
Phone: +1-646-932-7242
Email: investor@ascent-ir.com
