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
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