Business
Rongcheng Group Limited Announces Entering into an Agreement and Plan of Merger with GalaxyEdge Acquisition Corporation
HONG KONG and NEW YORK, May 01, 2026 (GLOBE NEWSWIRE) -- Rongcheng Group Limited, a Cayman Islands exempted company (“Rongcheng” or the “Company”) announced today that it has entered into an Agreement and Plan of Merger (the “Agreement”) with GalaxyEdge Acquisition Corporation (NYSE: GLED, GLEDR, GLEDU) (“GalaxyEdge”), a Cayman Islands exempted company and special purpose acquisition company, Rongcheng Global Limited, a Cayman Islands exempted company and wholly owned subsidiary of GalaxyEdge (t
About this update from Galaxyedge Acquisition Corporation
[{"type":"text","content":"HONG KONG and NEW YORK, May 01, 2026 (GLOBE NEWSWIRE) -- Rongcheng Group Limited, a Cayman Islands exempted company (“Rongcheng” or the “Company”) announced today that it has entered into an Agreement and Plan of Merger (the “Agreement”) with GalaxyEdge Acquisition Corporation (NYSE: GLED, GLEDR, GLEDU) (“GalaxyEdge”), a Cayman Islands exempted company and special purpose acquisition company, Rongcheng Global Limited, a Cayman Islands exempted company and wholly owned subsidiary of GalaxyEdge (the “Purchaser”), and GLED Merger Sub Ltd., a Cayman Islands exempted company and wholly owned subsidiary of the Purchaser (the “Merger Sub”), pursuant to which Merger Sub will merge with and into the Company, with the Company surviving as a wholly owned subsidiary of the Purchaser, and GalaxyEdge will merge with and into the Purchaser, with the Purchaser surviving as the publicly traded company (the “Proposed Transaction”).","length":927,"tagName":"p"},{"type":"text","content":"Rongcheng is an integrated waste sorting service provider delivering end-to-end “consultation–implementation–training” solutions to enterprises and a variety of customers, including consultation, implementation support, and training solutions.","length":243,"tagName":"p"},{"type":"text","content":"Chen Li, Director of Rongcheng, said, “The strategic transaction validates our integrated ‘consultation–implementation–training’ model and accelerates our business expansion. Becoming a public company will enhance our credibility and provide access to diversified sources of capital to scale our operations and deepen our competitive moat.” ","length":340,"tagName":"p"},{"type":"text","content":"Mr. Ping Zhang, Chairman/CEO of GalaxyEdge, said, “The merger reflects our commitment to pairing our public market platform with an operator that can execute. With Rongcheng’s end-to-end “consultation–implementation–training” service model and established customer relationships, we believe the company is positioned to capitalize on significant opportunities ahead, while our structure provides the resources and support needed to scale effectively.”","length":451,"tagName":"p"},{"type":"text","content":"Transaction Overview","length":20,"tagName":"p"},{"type":"text","content":"Pursuant to the Agreement, GalaxyEdge will merge with and into Purchaser, its wholly owned subsidiary, which ...