Iron Horse Acquisitions enters business combination with Rosey Sea Holdings

Iron Horse Acquisitions announced that it has entered into a definitive business combination agreement dated with Rosey Sea Holdings, a British Virgin Islands company, and the parent company of Zhong Guo Liang Tou Group, d/b/a China Food Investment, a British Virgin Islands company. Iron Horse is the first vehicle in the Iron Horse family of SPACs. EF Hutton acted as sole book running manager in the initial SPAC offering and served as Capital Markets Advisor to Iron Horse. Upon consummation of the proposed business combination, Iron Horse will acquire from Rosey Sea one hundred percent of the issued and outstanding equity capital of CFI, resulting in CFI becoming a wholly owned subsidiary of Iron Horse, with Iron Horse planning to change its name to China Food Investment. CFI is a company focused on the production and sale of health and agricultural biotechnology food products through subsidiaries in Hong Kong, PRC and Mainland China. By integrating health-focused research and development, the company, including through the distribution of its food products, advocates the consumption of green and healthy food as the industry continues to grow in Asia and internationally. The parties expect the business combination to close in the first quarter of 2025 with the post-closing company’s shares still being listed on The Nasdaq Stock Market. The transaction is subject to closing conditions under the BCA, including completion of certain due diligence review and regulatory approvals, including required Nasdaq approval. The combined company will have an estimated post-transaction enterprise value of $523M.