Business
Broadway Technology Inc Announces Entering into a Merger Agreement with Quartzsea Acquisition Corporation
HAINING, China, June 06, 2025 (GLOBE NEWSWIRE) -- Broadway Technology Inc (“Gaokai”), a leading manufacturer of high-quality PET (polyethylene terephthalate) cups and lids through its operating subsidiary Zhejiang Gaokai New Materials Co., Ltd., announced the execution of an Agreement and Plan of Merger (the “Merger Agreement”) for a business combination with Quartzsea Acquisition Corporation (Nasdaq: QSEAU, QSEA, QSEAR) (“Quartzsea”), a publicly traded special purpose acquisition company. Upon
About this update from Quartzsea Acquisition Corporation
[{"type":"text","content":"HAINING, China, June 06, 2025 (GLOBE NEWSWIRE) -- Broadway Technology Inc (“Gaokai”), a leading manufacturer of high-quality PET (polyethylene terephthalate) cups and lids through its operating subsidiary Zhejiang Gaokai New Materials Co., Ltd., announced the execution of an Agreement and Plan of Merger (the “Merger Agreement”) for a business combination with Quartzsea Acquisition Corporation (Nasdaq: QSEAU, QSEA, QSEAR) (“Quartzsea”), a publicly traded special purpose acquisition company.","length":494,"tagName":"p"},{"type":"text","content":"Upon consummation of the transaction contemplated by the Merger Agreement, (i) Quartzsea will be merged with and into Cuisine Universal Packaging Solution, a Cayman Islands exempted company and wholly owned subsidiary of Quartzsea (“Cuisine Universal”) (the “SPAC Merger”), and (ii) concurrently with the SPAC merger, CUPS Sub Limited, a Cayman Islands exempted company and wholly owned subsidiary of Cuisine Universal, will be merged with and into Gaokai, resulting in Gaokai being a wholly owned subsidiary of Cuisine Universal (the “Business Combination” and the transactions in connection with the Business Combination collectively, the “Transaction”). Upon the closing of the Transaction, the combined company Cuisine Universal expects to be Nasdaq-listed under the ticker symbol “CUPS.”","length":792,"tagName":"p"},{"type":"text","content":"Gaokai Overview","length":15,"tagName":"p"},{"type":"text","content":"Gaokai, through its operating subsidiary Zhejiang Gaokai New Materials Co., Ltd., is a high-tech enterprise specializing in the manufacture of high quality customized PET (polyethylene terephthalate) cups and PET lids, with products widely used in packaging markets of aviation, yogurt, juice, fruit tea, coffee, and cold beverage markets. Established in 2021 and located in Haining Jianshan New District, Zhejiang Province, the company operates within the PET industrial park in convenience for sourcing and developing advanced PET raw material.","length":546,"tagName":"p"},{"type":"text","content":"Gaokai’s core competitive advantages include stable and high-performance raw PET materials, comprehensive upstream sheet manufacturing capabilities, advanced equipment and automated production lines, and high-transparency, innovative product designs. The company offers comprehensive PET cup customiz...