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Announced

Completed

Scienjoy completed the merger with Wealthbridge Acquisition.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA12.6x
Share Price Premium-
One Off Charge-

Tags

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Public

Asset Managers and Custodians

Completed

special purpose acquisition company

Single Bidder

Majority

Merger

asset management company

Acquisition

Friendly

Hong Kong

De-SPAC

Synopsis

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Scienjoy, live entertainment mobile streaming platform, completed the merger with Wealthbridge Acquisition, a special purpose acquisition company. Financial terms were not disclosed. "We commend Victor and his team at Scienjoy for their success to date in building a vibrant live streaming ecosystem in China. As the mobile entertainment live streaming market continues to grow both in China and abroad, we are excited to work with Scienjoy to capitalize on these emerging opportunities," Winston Liu, Wealthbridge Chairman and CEO.

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