On March 27, 2023, Bestpath (Shanghai) IoT Technology Co., Ltd. (Bestpath), a pioneering hydrogen fuel cell powered vehicle company in China, and Aquaron Acquisition Corp. (Aquaron), a Nasdaq listed special purpose acquisition company, announced that they have entered into a definitive agreement for a business combination between Bestpath and Aquaron. Upon completion of the business combination, the company will become a publicly traded company on the Nasdaq Stock Market. Wilson Sonsini Goodrich & Rosati represented Aquaron in this transaction. The business combination reflects an initial equity value of approximately US$1.2 billion for Bestpath. 

The Wilson Sonsini team representing Aquaron in this transaction includes:

Corporate
Weiheng Chen, Partner
Jie Zhu, Partner
Sally Yin, Of Counsel
Xuchao Dong, Of Counsel
Athena Yu, Associate
Yang Liao, Associate
Yan Liang, Special Associate

Tax
Derek E. Wallace, Partner

For more information, please visit the company’s press release.