Chenghe Acquisition I Co. Shareholders Approve Business Combination Agreement and Name Change

Chenghe Acquisition I Co. (NASDAQ: LATGU) recently held an extraordinary general meeting where important decisions were made by shareholders. The meeting, which took place on December 23, 2024, saw holders of approximately 77.25% of the company’s ordinary shares present in person or by proxy.

During the meeting, several key proposals were brought forth and subsequently approved by the shareholders. These include the approval and adoption of the business combination agreement dated December 22, 2023, involving FST Corp., FST Merger Ltd., and Femco Steel Technology Co., Ltd. This agreement entails a merger between Merger Sub and Chenghe Acquisition I Co., with the latter becoming the surviving entity and changing its name to “FST Ltd.”

Additionally, shareholders greenlit the plan of merger to be filed with the Registrar of Companies of the Cayman Islands, as well as the reclassification and re-designation of shares, including a change in the authorized share capital of the company. Furthermore, proposals to amend the company’s name and its memorandum and articles of association were also approved.

The voting results for each proposal were overwhelmingly in favor, with a significant majority supporting the decisions. As a result, the “Adjournment Proposal” was not presented, as there were ample votes in favor of all resolutions.

In a significant step forward, Chenghe Acquisition I Co. is set to undergo a transformation following these shareholder approvals. With strategic changes on the horizon, the company is gearing up for a new phase of growth and development in line with the decisions made at the extraordinary general meeting.

About Chenghe Acquisition I Co.
Chenghe Acquisition I Co. is a company based in the Cayman Islands, previously known as LatAmGrowth SPAC. The company’s recent shareholder meeting ushered in a series of approvals that signal forthcoming changes within the organization. With a focus on business combination agreements and structural adjustments, Chenghe Acquisition I Co. is poised to enter a new chapter as it transitions to FST Ltd.

Contact:
Chenghe Acquisition I Co.
Phone: (+65) 9851 8611

This concludes the summary of the recent developments at Chenghe Acquisition I Co. as per the 8-K filing submitted to the SEC.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Chenghe Acquisition I’s 8K filing here.

About Chenghe Acquisition I

Chenghe Acquisition I Co does not have significant operations. The company focuses on effecting a merger, share exchange, share purchase, asset acquisition, reorganization, or similar business combination with one or more businesses. It intends to focus its search for an initial business combination on businesses in Latin America or Hispanic-owned businesses in the United States.