We have developed, consistent with our business strategies, the following general guidelines that we believe are important in evaluating prospective De-SPAC Targets:
A leading position in a new economy sector: We intend to acquire a business that is a leader in a new economy sector, with a compelling technology-enabled business model reinforced by significant barriers to entry.
Favourable long-term growth prospects: We intend to combine with a De-SPAC Target that possesses long-term growth potential or is a rapidly growing business operating in an expanding market with great market potential. We intend to seek opportunities to acquire businesses with diversified drivers of revenue growth, which are established in their respective market segments, and business that are able to capture market trends and market potential to achieve attractive and long-term growth.
Differentiated value proposition and technology barriers: We intend to combine with a De-SPAC Target with one or more differentiated products or service offerings. Sources of competitive differentiation may include brand name, customer reputation, patents, technical expertise, technology knowhow and other intellectual property related assets, as well as related talent and personnel. We prefer companies that enjoy established competitive technology barriers that are difficult to replicate, as opposed to businesses that benefit solely from superior business models.
Traceable financial track record with an ethical, professional and responsible management holding strong ESG values: We intend to combine with a De-SPAC Target that has high environmental, social and governance (“ESG”) standards, supported by a management team with the right experience, expertise and vision, and who share our motivation to create long-term value for the Shareholders.
These criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular De-SPAC Transaction may be based, to the extent relevant, on these general guidelines as well as on other considerations, factors and criteria that our Board may deem relevant to our search for a De-SPAC Target. While we intend to follow these guidelines and criteria for evaluating potential De-SPAC Targets, it is possible that the De-SPAC Target(s) with which we enter into a De-SPAC Transaction will not meet these guidelines and criteria.