Zhaogang.com Inc entered into Business Combination Agreement to acquire Aquila Acquisition Corporation (SEHK:7836) in a reverse merger transaction on August 31, 2023. Transaction is conditional upon, and the terms of the PIPE Investments, the Bonus Share Issue, the Promoter Earn-out Right, the Permitted Equity Financing and the withdrawal of listing of the Aquila Class A Shares will be subject to, approval by the Aquila Class A Shareholdersat the EGM and compliance with applicable Listing Rule requirements (including the requirement for the Successor Company to have a minimum number of 100 Professional Investors at the time of listing), unless a waiver from strict compliance with any of these requirements is granted by the Stock Exchange. Moelis & Company and UBS acted as financial advisor for Zhaogang.com Inc. Grace Huang, Arun Balasubramanian, Sarah Su and Cindy Kwong of Freshfields Bruckhaus Deringer LLP; Allen & Overy and Maples Group acted as legal advisor to Aquila Acquisition.

Steve Lin, Mengyu Lu, Joey Chau of Kirkland & Ellis acted as legal advisor to ZG Group.