New York, December 12, 2022 /PRNewswire/ — Venus Acquisition Corporation (“we” or “venus”) (NASDAQ: VENA) today announced that December 9, 2022, the Company completed its previously announced business combination (the “Business Combination”) with VIYI Algorithm Inc. (“VIYI”). This allows the Venus Merger Sub (“Venus Merger Sub”), Cayman Islands The exempt company formed for the purpose of effecting the business combination will merge with VIYI, which will survive the merger and become a wholly owned subsidiary of Venus. Venus is a publicly traded Special Purpose Acquisition Company (SPAC).
As part of this transaction, the company changed its name to “MicroAlgo Inc.”. As a result, the Company expects the Company’s common stock to begin trading on his Nasdaq Capital Market under the ticker symbol “MLGO.” December 13, 2022and its units and rights are December 12, 2022The company has been notified by the Nasdaq that the warrants have not met initial listing requirements and will be delisted from the Nasdaq around 2020. December 21, 2022The Company will continue to be listed and continue trading under its current company name and trading symbol. December 12, 2022.
VIYI is dedicated to the development and application of bespoke central processing algorithms. Central processing algorithms refer to various computing algorithms such as analysis algorithms, recommendation algorithms, and acceleration algorithms. VIYI provides customers with comprehensive solutions by integrating central processing algorithms with software and/or hardware. This helps increase customer numbers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and meet technology goals. VIYI’s range of services includes algorithm optimization, computing power acceleration without hardware upgrades, lightweight data processing, and data intelligence services. VIYI’s ability to efficiently provide customers with software and hardware optimization through custom-made central processing algorithms has been the driving force behind VIYI’s long-term development. As a leading central processing algorithm service provider, VIYI is ideally positioned for rapid revenue growth. China.
In connection with a business combination, the Company’s units, each consisting of (i) one share of common stock, one warrant, and one right to purchase one-half of one share of common stock, shall be the constituent securities of those constituent securities; and (ii) 4,600,000 Public Interests (including those contained in units) were converted into 460,000 common shares. In addition, 225,000 rights held by Yolanda Management Corporation were converted into 22,500 shares of common stock.
About Venus Acquisition Corporation
Our company was established as a blank check company. Cayman Islands An exempted company formed for the purpose of a merger, stock swap, asset acquisition, stock purchase, reorganization, or similar business combination with one or more corporations.
VIYI Algorithm Co., Ltd.
VIYI Algorithm Inc. (“VIYI”), Cayman Islands An exempt company dedicated to the development and application of bespoke central processing algorithms. VIYI provides customers with comprehensive solutions by integrating central processing algorithms with software and/or hardware. This helps increase customer numbers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and meet technology goals. VIYI’s range of services includes algorithm optimization, computing power acceleration without hardware upgrades, lightweight data processing, and data intelligence services. VIYI’s ability to efficiently provide customers with software and hardware optimization through custom-made central processing algorithms has been the driving force behind VIYI’s long-term development.
This press release contains statements that may constitute “forward-looking statements.” Forward-looking statements are subject to a number of conditions, many of which are set forth in the Risk Factors section of Venus’ Annual Report on Form 10-K and in its final proxy statement on Schedule 14A filed with the SEC. is beyond the control of Venus, including A copy is available at the SEC’s website at www.sec.gov. “expect”, “estimate”, “plan”, “budget”, “forecast”, “predict”, “intend”, “plan”, “may”, “will”, Words such as “could”, “should”, “believe”, “estimate”, “could”, “continue” and similar expressions do not refer to such forward-looking statements. It is intended to identify the description. These forward-looking statements include, but are not limited to, Venus’ expectations of future performance and the expected financial impact of its business transactions.
Venus undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Such forward-looking statements relate to future events or future performance, but reflect the parties’ current beliefs based on currently available information. Some of these factors are outside the parties’ control and may be difficult to predict. A number of factors could cause actual events, performance or results to differ materially from those described in the forward-looking statements. Factors that can cause such differences include: natural catastrophes; changes in interpretation of US generally accepted accounting principles; results of government reviews; inquiries and investigations, and related litigation; Continued compliance with government regulations. Changes in the legal or regulatory environment, requirements or changes that adversely affect Venus and VIYI’s business, including without limitation the reaction of her VIYI customers to the business combination. Difficulties in maintaining and managing continued growth. Restrictions on ability to pay dividends. general economic conditions; geopolitical events and regulatory changes; Failure to keep Venus Securities listed on the Nasdaq stock market.
The aforementioned list of factors is not exclusive. Additional information regarding these and other risk factors is contained in Venus’ filings with the SEC. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. We undertake no obligation or commitment to publicly update or revise any forward-looking statements in this press release to reflect changes in expectations or to changes in events, conditions or circumstances on which such statements are based. I will not accept it. Where required by law. Nothing contained herein constitutes, and should not be deemed to constitute, a projection, projection or estimate of the Company’s future financial performance after the consummation of any business combination or otherwise.
Chief executive officer
Email: [email protected]
917 267 4568
Venus Acquisition Corporation
6th Floor, 477 Madison Avenue,
new york, new york
SOURCE Venus Acquisition Corporation