Jupiter Wellness Acquisition Corp. Issues Statement on Closing the Business Combination with Chijet Motor Company, Inc.
JUPITER, FL / ACCESSWIRE / May 24, 2023 / Jupiter Wellness Acquisition Corp. (NASDAQ:JWAC), a publicly traded special purpose acquisition company, has issued this press release to address a statement that appeared in the marketplace that the Closing of the Business Combination with Chijet Motor Company, Inc. had occurred. The Business Combination has not closed as of this time. The Closing conditions of the Business Combination have not currently been satisfied. The Company will continue to work to satisfy the closing conditions although there can be no assurance that the Business Combination will be consummated within the necessary time period prior to liquidation.
About Chijet
The primary business of Chijet is the development, manufacture, sales and service of traditional fuel vehicles and electric vehicles. State-of-the-art manufacturing systems and stable supply chain management enable the company to provide consumers with products of high performance at reasonable prices. The factory in Yantai, China, will be dedicated to EV production, and the company's headquarters will be also located at the planned Yantai factory. Chijet has a management team of industry veterans with decades of experience in engineering and design, management, financing, industrial production and financial management.
About Jupiter Wellness Acquisition Corp.
JWAC is a special purpose acquisition company formed for the purpose of entering a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses or entities. JWAC began trading on the Nasdaq in December 2021, and its common stock and rights are traded under the ticker symbols JWAC and JWACR, respectively.
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