HCYC Group to Go Public in Merger With SPAC AlphaTime Acquisition

Dow Jones01-06

By Ben Glickman

HCYC Group will go public in a merger with special-purpose acquisition company AlphaTime Acquisition.

HCYC Group, an insurance brokerage, is a holding company for a subsidiary in Hong Kong called HCYC Wealth Management $(ASIA)$ Co.

AlphaTime said shareholders of HCYC will receive 7.5 million shares of the combined company, valued at $75 million. The deal is expected to be consummated early this year, the company said.

The combined company is expected to trade on the Nasdaq under a new ticker system and will retain HCYC's executive management team.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

January 05, 2024 17:56 ET (22:56 GMT)

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