UY Scuti Acquisition Corp (UYSC) News & EventsUYSCUY Scuti Acquisition Corp

UY Scuti Acquisition announces combination agreement with Isdera Group

Isdera Group Limited, a Cayman Islands company that shall become the parent company of Xinghui Automotive Technology, a company in the business of designing automobiles in the People's Republic of China, has entered into an Agreement and Plan of Merger for a business combination with UY Scuti Acquisition Corp., a special purpose acquisition company incorporated in the Cayman Islands. Upon the closing of the Transaction, the combined company, Isdera Inc expects to be listed on the Nasdaq Capital Market under a new ticker symbol. "Isdera Group is an industrial automotive enterprise with global ambitions. Headquartered in China and backed by robust design and research and development capabilities, the Company entered the ultra-luxury supercar industry by acquiring the iconic German marque ISDERA, known for its legacy of handcrafted performance vehicles. Under the Company's stewardship, ISDERA is undergoing a strategic transformation intended to revitalize the brand by expanding into both combustion-engine and electric supercar segments, supported by in-house R&D centers. Isdera Group is dedicated to achieving value in the high-growth and high-margin supercar market by leveraging its design capabilities with this heritage-driven brand story," the company stated.