WAVE SYNC CORP. Wave Sync Corp. (OTCPK : WAYS) entered into a letter of intent to acquire Aiways Pacific Asia Inc. on May 26, 2023. As a condition to the Aiways Pacific closing the acquisition, the then board of directors and executive officers of the Aiways Pacific will appoint new members of the board of directors and new executive officers to replace them, as designated in writing by the Aiways Pacific, and resign simultaneously.
The completion of the acquisition is subject to customary conditions, such as the completion of due diligence to each company's satisfaction, the negotiation of a definitive agreement providing for the transaction, satisfaction of the conditions negotiated therein and approval of the transaction by the board and stockholders of both Wave and the Aiways Pacific, and satisfaction of the other conditions contained therein.
