Hainan Manaslu Acquisition Corp. (HMAC) Closes Able View Deal
by Nicholas Alan Clayton on 2023-08-17 at 1:19pm

Hainan Manaslu Acquisition Corp. (NASDAQ:HMAC) announced that it has closed its combination with Able View and the beauty brand company’s shares and warrants are to begin trading on the Nasdaq under the symbols “ABLV” and “ABLVW”, tomorrow August 18.

The two sides secured shareholder approval for the combination at a special meeting earlier this month, where 98% of the SPAC’s shares were tendered for resignation. This would have left it with about $1.4 million in its trust and it has not since specified if any shareholders reversed their redemption decisions.

The SPAC inked its $400 million business combination with Able View in November 2022. Shanghai-based Able View is a cross-border brand management company focusing on beauty and personal care segments.

It focuses on helping global brands enter the Chinese market and grow within it, with specialties extending into value chain logistics and omni-channel sales strategies.


ADVISORS

  • Ellenoff Grossman & Schole LLP acted as U.S. legal counsel to HMAC.
  • Pryor Cashman, LLP acted as U.S. legal counsel to Able View.
  • Global Law Office acted as PRC legal counsel to HMAC.
  • Jun He Law Offices acted as PRC legal counsel to Able View.
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