Leading Group eyes Chinese market expansion post-merger

The proposed transaction values Leading Group at approximately $430m.

Leading Group, a licensed digital insurance broker in China, and Healthcare AI Acquisition , a purpose acquisition company, have announced a definitive agreement to merge.

Upon completion, Leading Group will be the surviving entity, and the combined company will be listed on the Nasdaq Stock Market. Leading Group plans to use the proceeds from the transaction to accelerate growth in the Chinese market.

The proposed transaction values Leading Group at approximately $430m, with plans to raise an additional $50m in private placement financing.

Following the merger, Leading Group's shareholders will hold a majority of the shares and control the board of directors. The transaction is expected to close in the fourth quarter of 2024, pending shareholder approval and regulatory clearances.

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