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BRIEF-Pacific special acquisition corp. announces signing of merger agreement
December 27, 2016 / 1:12 PM / a year ago

BRIEF-Pacific special acquisition corp. announces signing of merger agreement

Dec 27 (Reuters) - Pacific Special Acquisition Corp :

* Pacific Special Acquisition - valuation of Borqs is at $303 million

* Pacific Special Acquisition Corp says upon closing under merger agreement, borqs will become operating entity of combined company

* Pacific Special Acquisition Corp says is expected that after closing, pacific will change its name to borqs technologies, inc

* Pacific Special Acquisition - shareholders of borqs will collectively own about 78% of pacific’s outstanding ordinary shares

* Pacific Special Acquisition - it is anticipated that shareholders of Borqs will collectively own about 78% of pacific’s outstanding ordinary shares

* Pacific Special Acquisition Corp says pacific will issue ordinary shares to Borqs shareholders in merger at a price of us$10.40 per pacific share

* Pacific Special Acquisition - Borqs intends to introduce iot products and cloud solutions in 2017 to mvno network to generate additional recurring revenue

* Pacific Special Acquisition-under terms, borqs will merge with and into newly formed subsidiary of pacific, with borqs continuing as surviving company

* Pacific Special Acquisition Corp. announces signing of merger agreement with Borqs International Holding Corp Source text for Eikon: Further company coverage:

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