|Bid||0.00 x 1000|
|Ask||10.00 x 1800|
|Day's Range||9.02 - 10.00|
|52 Week Range||9.02 - 12.05|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Orisun Acquisition Corp. (NASDAQ: ORSN), a special purpose acquisition company ("Orisun"), and Ucommune Group Holdings Limited ("Ucommune" or the "Company"), a leading agile office space manager and provider in China, today announced the completion of their previously announced business combination (the "Business Combination"). The Business Combination was approved by Orisun's shareholders on November 16. Upon completion of the Business Combination, the combined company, or Ucommune International Ltd remains as the surviving publicly traded entity. Its Class A Ordinary Shares and Warrants are expected to be traded on the Nasdaq Capital Market under the symbols "UK" and "UKOMW," respectively, commencing November 18, 2020.
Orisun Acquisition Corp.(NASDAQ: ORSNU, the "Company"), a special purpose acquisition company, announced today that Ucommune Group Holdings Limited ("Ucommune") has deposited into the Company's trust account (the "Trust Account") a principal amount of $444,002, (representing approximately $0.10 per share of common stock), in order to extend the period of time the Company has to complete a business combination for an additional three (3) months period, from November 6, 2020 to February 6, 2021. The Company issued an unsecured promissory note in an amount of $444,002 to Ucommune. The promissory note bears no interest and is convertible into the Company's units (with each unit consisting of one share of common stock, one warrant to purchase one-half of one share of common stock, and one right to receive one-tenth of one share of common stock upon the consummation of the Company's initial business combination) at a price of $10.00 per unit at the closing of a business combination by the Company. The purpose of the extension is to provide time for the Company to complete a business combination.
Orisun Acquisition Corp. ("Orisun") (NASDAQ: ORSN, ORSNU, ORSNW, ORSNR), a special purpose acquisition company, announced today that, together with Ucommune International Ltd, it has entered into backstop agreements with 14 investors. The investors agreed to invest no less than $53 million by either (i) acquiring Orisun's common stock in the open market or in private transactions prior to the closing of the business combination at the then prevailing market price of the shares, or (ii) acquiring common shares in a private placement concurrently with the closing of the business combination at $10.10 per share.