Starry Sea Acquisition Corp. (NASDAQ: SSEA) has announced the signing of a binding letter of intent for a proposed business combination with Forever Young International Limited, a company providing management and support services to medical institutions in China. According to Starry Sea Acquisition Corp., the deal assigns Forever Young a pre-money equity value between $750 million and $900 million, subject to due diligence. The proposed consideration would be in the form of ordinary shares of the combined public entity, valued at $10 per share. Both parties have entered into a 60-day period of mutual exclusivity to negotiate a definitive agreement, with the possibility of extension under certain conditions.
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