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Global Lights Acquisition and W Straits provide update on business combination

Global Lights Acquisition, or GLAC, and W Straits, an international fintech company based in Malaysia, announced an update regarding their ongoing negotiations for a definitive agreement in connection with a potential business combination. W Straits and GLAC previously entered into a non-binding letter of intent on November 22, 2024, expressing their mutual interest in pursuing a business combination. Since then, both parties are working towards finalizing and executing a definitive business combination agreement. W Straits and GLAC anticipate reaching this milestone within the coming weeks. Completion of the proposed business combination between W Straits and GLAC remains subject to several conditions, including the completion of due diligence, the satisfaction of the conditions negotiated therein, and approval of the transaction by the board and shareholders of both W Straits and GLAC.

Global Lights Acquisition, W Straits sign LOI for potential combination

W Straits, an international fintech company, and Global Lights Acquisition Corp. announced the signing of a non-binding letter of intent for a potential business combination. Under the terms of the non-binding letter of intent, W Straits and GLAC would become a combined entity, with W Straits' existing shareholders exchanging their shares in W Straits for equity in the combined public company. W Straits and GLAC expect to finalize a definitive business combination agreement in the coming weeks and plan to announce additional details at that time. Completion of a business combination between W Straits and GLAC is subject to, among other things, the completion of due diligence, the negotiation of a definitive agreement providing for the transaction, the satisfaction of the conditions negotiated therein, and approval of the transaction by the board and shareholders of both W Straits and GLAC. There can be no assurance that a definitive agreement will be entered into or that the proposed business combination will be consummated on the terms or timeframe currently contemplated, or at all.