Lotus Technology (NASDAQ:LOT) Shares Gap Down – Time to Sell?
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NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Future Vision II Acquisition Corp., (NASDAQ: FVNNU) a publicly traded special purpose acquisition company (the “Future Vision”), and Viwo Technology Inc., a Cayman Islands exempted company operating its business via wholly owned entities in China (“Viwo”), today announced that, on December 10, 2024, they have entered into Amendment No. 1 to the Merger Agreement. Amendment No. 1 to the Merger Agreement requires pre-Business Combination Viwo shareholders to enter into a lock up agreement with respect to Future Vision shares they receive from the consummation of the Business Combination. The lock up is designed to align the interests of these shareholders with the long-term growth of the post-Business Combination company, Viwo Inc. Under the terms of the lock-up agreement, shareholders will be required to enter into a lock-up agreement, which includes a Viwo Inc. performance based release mechanism. This mechanism provides that shares are released based on the achievement of specific financial performance milestones and time-based criteria. Key Highlights of the Lock-Up Agreement: Company Shareholders’ shares received in connection with the consummation of the Business Combination will be locked up for two (2) or three (3) years from the Effective Time of the Business Combination if the following performance-based milestone is met by Viwo Inc. Condition of the Two-Year Lock-Up Period Shares will be eligible for release if Viwo Inc. achieves an audited gross revenue growth of 20% by the end of the first fiscal year and 30% by the end of the second fiscal year, or a compounded growth rate of 24.96% year over year for the two-year period. If Viwo Inc. does not achieve the required gross revenue growth, than the shares will be locked up for a third year. Condition of the Three-Year Lock-Up Period: Shares will be eligible for release if Viwo Inc. achieves an audited gross revenue growth of 126.2% by the end of the third fiscal year, representing a compounded growth rate of 28.46% year over year, or 45% revenue growth from the second year assuming Viwo Inc. achieves a compounded growth rate of 24.96% year over year for the first and second years. Forfeiture of Shares to Release Lock Up: Alternatively, shareholders may effect the forfeiture of 10% of their Consideration Shares after the end of the third fiscal year to release the lock up. “We believe that this lock-up agreement, with its staggered release mechanism, will foster a stronger alignment between shareholders and the company’s long-term goals,” said Fidel Wang of Viwo Technology Inc. “By tying the release of shares to specific financial performance milestones, we are reinforcing our commitment to sustainable growth and value creation.” About Viwo Technology Inc. Viwo is an innovation-driven technology company specializing in AI and “Martech” (marketing + technology) services, as well as AI and software development services. Viwo’s mission is to drive business growth and enhance corporate value for its customers. Viwo assists customers across various industries in achieving digital upgrades and transformations, thereby creating future value. Viwo is committed to continuous technological innovation with the aim of industrializing intelligent digital technology. About Future Vision II Acquisition Corp. Future Vision II Acquisition Corp is a newly incorporated blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. While we will not be limited to a particular industry in our identification and acquisition of a target company, we intend to focus our search on businesses within the technology, media, and telecommunications sector. Additional Information about the Business Combination and Where to Find It To facilitate the Business Combination, Future Vision will file a registration statement on Form S-4 (as may be amended from time to time, the “Registration Statement”) that will include a preliminary proxy statement/prospectus of Future Vision, and after the Registration Statement is declared effective, Future Vision will mail a definitive proxy statement/prospectus relating to the Business Combination to its shareholders. The Registration Statement, including the proxy statement/prospectus contained therein, when declared effective by the SEC, will contain important information about the Business Combination and the other matters to be voted upon at a meeting of Future Vision’s shareholders to be held to approve the Business Combination and related matters. This communication does not contain all of the information that should be considered concerning the Business Combination and other matters and is not intended to provide the basis for any investment decision or any other decision in respect to such matters. Future Vision and Viwo may also file other documents with the SEC regarding the Business Combination. Future Vision shareholders and other interested persons are advised to read the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the Business Combination, when available, as these materials will contain important information about Future Vision, Viwo, and the Business Combination. When available, the definitive proxy statement/prospectus and other relevant materials for the Business Combination will be mailed to Future Vision shareholders as of a record date to be established for voting on the Business Combination. Shareholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC’s website at www.sec.gov . Participants in the Solicitation / No Offer or Solicitation Future Vision, Viwo, and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Future Vision shareholders in connection with the proposed Business Combination. A list of the names of the directors and executive officers of Future Vision and information regarding their interests in the business combination will be contained in the proxy statement/prospectus when available. You may obtain free copies of these documents as described in the preceding paragraph. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction. Forward-Looking Statements Neither Future Vision, Viwo, nor any of their respective affiliates make any representation or warranty as to the accuracy or completeness of the information contained in this Current Report on Form 8-K. This Current Report on Form 8-K is not intended to be all-inclusive or to contain all the information that a person may desire in considering the proposed Business Combination discussed herein. It is not intended to form the basis of any investment decision or any other decision in respect of the proposed Business Combination. This Current Report on Form 8-K and the exhibits filed or furnished herewith include “forward-looking statements” made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 with respect to the proposed transactions by and among Future Vision, Merger Sub, and Viwo, including statements regarding the benefits of the transaction, the anticipated timing of the Business Combination, the business of the Company and the markets in which they operate. Actual results may differ from expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements generally are identified by the words or phrases such as “aspire,” “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “will be,” “will continue,” “will likely result,” “could,” “should,” “believe(s),” “predicts,” “potential,” “continue,” “future,” “opportunity,” “seek,” “intend,” “strategy,” or the negative version of those words or phrases or similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Future Vision’s and Viwo’s expectations with respect to future performance and anticipated financial impacts of the proposed Business Combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Future Vision’s and Viwo’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: general economic, financial, legal, political and business conditions and changes in domestic markets; risks related to the business of Viwo and the timing of expected business milestones; changes in the assumptions underlying the expectations of the Viwo regarding its future business; the effects of competition on the Viwo’s future business; the outcome of any legal proceedings that may be instituted against Future Vision, Viwo, and/or the combined company or others following the announcement of the proposed Business Combination and any definitive agreements with respect thereto; the inability to complete the proposed Business Combination, including, without limitation, the inability to obtain approval of the shareholders of Future Vision or to satisfy other conditions to closing; the ability to meet stock exchange listing standards in connection with and following the consummation of the proposed Business Combination; the risk that the proposed Business Combination disrupts current plans and operations of Future Vision and Viwo as a result of the announcement and consummation of the proposed Business Combination; the ability to recognize the anticipated benefits of the proposed Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; costs related to the proposed Business Combination; changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain regulatory approvals required to complete the proposed Business Combination; the Parties’ estimates of expenses and profitability and underlying assumptions with respect to shareholder redemptions and purchase price and other adjustments; the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties set forth in the filings made by Future Vision with the SEC, including the proxy statement/prospectus that will be filed relating to the proposed Business Combination. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Future Vision and Viwo caution that the foregoing list of factors is not exclusive. Future Vision and Viwo caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither Future Vision or Viwo undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. For investor and media inquiries, please contact: Ms. Caihong Chen, CFO of Future Vision Email: caih_chen@outlook.com
Trump says he’ll eliminate ‘wokeness’ from educationIn addition to promoting innovation, the Central Political Bureau also highlighted the importance of creating a more open and market-oriented economic environment. China will continue to deepen reforms, enhance market mechanisms, and further open up its economy to foreign investment. By improving the business environment, reducing red tape, and protecting intellectual property rights, China aims to attract more foreign investment and boost economic growth.Despite the truck driver's rational explanation, the car driver was not willing to accept any fault. He insisted that the truck should have been more cautious and should have allowed him to merge into the lane smoothly. The standoff between the two drivers attracted the attention of passersby and other drivers, who stopped to watch the drama unfold.
Reader Opinion: Getting rich with other people's moneyIf you were fascinated by The Last Queen by Chitra Banerjee Divakaruni, a historical fiction novel that beautifully intertwines the life of Rani Jindan Kaur with the politics of 19th-century British India, you are likely craving more novels that explore similar themes of powerful women, historical drama, and complex political landscapes. Here are 8 books that will appeal to fans of The Last Queen. 1. The Palace of Illusions by Chitra Banerjee Divakaruni If you loved The Last Queen, you’ll want to explore more of Divakaruni's evocative storytelling. In The Palace of Illusions, Divakaruni retells the story of Draupadi, the fierce and enigmatic princess from the Mahabharata. The novel is set in ancient India and combines mythology with the personal journey of a woman navigating her place in the world. It explores themes of power, destiny, and love, much like The Last Queen, but in a completely different historical context. The rich narrative of self-discovery and resistance will resonate with readers drawn to strong female protagonists. 2. The Tea Girl of Hummingbird Lane by Lisa See This historical novel blends family drama with cultural history, much like The Last Queen’s portrayal of royal intrigue. Set in the remote mountains of China, The Tea Girl of Hummingbird Lane tells the story of Li-yan, a young girl from an Akha ethnic minority, who grows up learning the ancient art of tea cultivation. As the narrative unfolds, it reveals her struggles with her heritage, the weight of tradition, and the complexities of family relationships. Like The Last Queen, it is a powerful story of women fighting for agency in a world that often marginalizes them. 3. The Zookeeper’s Wife by Diane Ackerman For readers who enjoyed The Last Queen's historical backdrop and its exploration of resilience, The Zookeeper’s Wife is an excellent choice. Based on a true story, this novel tells the tale of Antonina and Jan Żabiński, who risked their lives to save hundreds of Jews during World War II by hiding them in their zoo in Warsaw. While the story is set in a different time and place, it shares The Last Queen's exploration of extraordinary women facing dangerous circumstances while making profound contributions to history. 4. The Daughters of Yalta by Catherine Grace Katz If you enjoyed The Last Queen’s focus on the intersection of personal lives with monumental historical events, The Daughters of Yalta will keep you equally engrossed. This non-fiction book explores the lives of three young women who were pivotal players at the Yalta Conference in 1945. They were daughters of Winston Churchill, Franklin D. Roosevelt, and Joseph Stalin, and the book examines their influence on the post-war world, much like how The Last Queen sheds light on the life of Rani Jindan amidst British colonial rule. 5. Atonement by Ian McEwan For readers who enjoyed the emotional depth and political undertones in The Last Queen, Atonement is a perfect choice. This novel spans several decades, beginning in the 1930s, and revolves around a lie told by a young girl that forever alters the lives of those involved. Set during World War II, Atonement explores themes of guilt, love, and the impact of personal decisions on larger historical events. Like The Last Queen, it reveals the personal consequences of political and historical forces. 6. The Mistry of Women by Nandini Sengupta This novel blends history with the lives of strong women navigating complex political landscapes. The Mistry of Women is a historical novel that unfolds in the backdrop of India’s independence movement. Much like The Last Queen, the story captures the courage and strength of women who must navigate the often treacherous political environment, with romance, betrayal, and intrigue woven throughout. Sengupta’s gripping narrative of historical events offers a deep dive into India’s past through the lens of women’s struggles. 7. The White Queen by Philippa Gregory Philippa Gregory’s The White Queen is the first book in her War of the Roses series, which delves into the tumultuous period of English history marked by the power struggle between the houses of Lancaster and York. This book, focusing on the life of Elizabeth Woodville, who became Queen of England, will appeal to readers of The Last Queen who enjoy complex female characters in royal settings. Like Rani Jindan Kaur, Elizabeth Woodville is a woman navigating the dangerous and competitive world of royalty, where loyalty and betrayal often collide. 8. Circe by Madeline Miller For fans of historical fiction that blends mythology with strong female characters, Circe by Madeline Miller offers a compelling narrative. The novel tells the story of Circe, the enchantress from Homer's Odyssey. It explores her transformation from a neglected daughter of a god to a powerful woman in her own right. Like The Last Queen, it delves into themes of empowerment, transformation, and resilience against oppressive forces, making it a must-read for those who loved the portrayal of Rani Jindan's strength and determination. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Features, Lifestyle and around the world.
While Liverpool is soaring high in the Champions League, the same cannot be said for three football powerhouses who are struggling to keep up with the pace. Real Madrid, Barcelona, and Paris Saint-Germain find themselves in a precarious position, with their chances of advancing to the knockout stages hanging in the balance. Real Madrid's inconsistent form, Barcelona's defensive frailties, and PSG's lackluster performances have raised doubts about their ability to make it to the top 8.
Overall, 2022 is shaping up to be a monumental year for the gaming industry, with GTA 6 and NS2 leading the way in terms of exciting new releases. As gamers eagerly await the arrival of these highly anticipated titles, analysts are optimistic about the future of gaming and the endless possibilities that lie ahead. With new technology, evolving trends, and a dedicated community of players, the stage is set for 2022 to be a historic and unforgettable year in gaming.
Nebraska's Matt Rhule: 'Total overhaul' of special teams coming after Pinstripe Bowl disasterDayle Haddon, an actor, activist and trailblazing former “Sports Illustrated” model who pushed back against age discrimination by reentering the industry as a widow, has died in a Pennsylvania home from what authorities believe was carbon monoxide poisoning. Authorities in Bucks County found Haddon, 76, dead in a second-floor bedroom Friday morning after emergency dispatchers were notified about a person unconscious at the Solebury Township home. A 76-year-old man police later identified as Walter J. Blucas of Erie was hospitalized in critical condition. Responders detected a high level of carbon monoxide in the property and township police said Saturday that investigators determined that “a faulty flue and exhaust pipe on a gas heating system caused the carbon monoxide leak.” Two medics were taken to a hospital for carbon monoxide exposure and a police officer was treated at the scene. As a model, Haddon appeared on the covers of Vogue, Cosmopolitan, Elle and Esquire in the 1970s and 1980s, as well as the 1973 Sports Illustrated swimsuit issue. She also appeared in about two dozen films from the 1970s to 1990s, according to IMDb.com, including 1994’s “Bullets Over Broadway,” starring John Cusack. Haddon left modeling after giving birth to her daughter, Ryan, in the mid-1970s, but then had to reenter the workforce after her husband’s 1991 death. This time she found the modeling industry far less friendly: “They said to me, ‘At 38, you’re not viable,’” in 2003. Working a menial job at an advertising agency, Haddon began reaching out to cosmetic companies, telling them there was a growing market to sell beauty products to aging baby boomers. She eventually landed a contract with Clairol, followed by Estée Lauder and then L’Oreal, for which she promoted the company’s anti-aging products for more than a decade. She also hosted beauty segments for CBS’s “The Early Show.” “I kept modeling, but in a different way,” she told The Times, “I became a spokesperson for my age.” In 2008, Haddon founded WomenOne, an organization aimed at advancing educational opportunities for girls and women in marginalized communities, including Rwanda, Haiti and Jordan.’ Haddon was born in Toronto and began modeling as a teenager to pay for ballet classes — she began her career with the Canadian ballet company Les Grands Ballet Canadiens, . Haddon’s daughter, Ryan, said in a social media post that her mother was “everyone’s greatest champion. An inspiration to many.” “A pure heart. A rich inner life. Touching so many lives. A life well lived. Rest in Light, Mom,” she said. The Associated Press