First Ostia Port, a Cayman Islands exempted company, agreed to merge with Acorn International, a marketing and branding company in China, for $54m. The merger, which is currently expected to close during the last quarter of 2020, is subject to customary closing conditions, including the approval of the merger agreement by a requisite company vote of shares representing at least two-thirds of the voting power of the shares present and voting in person or by proxy at a meeting of the company's shareholders which will be convened to consider the approval of the merger agreement and the merger.