Rongcheng Group to go public via merger with GalaxyEdge Acquisition Corporation valued at $350M

Rongcheng Group Limited, a waste sorting service provider, has agreed to merge with GalaxyEdge Acquisition Corporation, a special purpose acquisition company, in a deal valuing Rongcheng at approximately $350 million. The merger will make Rongcheng a publicly traded company, enhancing its credibility and access to capital for business expansion. The transaction has been approved by both companies' boards and awaits regulatory and shareholder approvals. This move aims to accelerate Rongcheng's growth by leveraging GalaxyEdge's public market platform and resources.