Fortune Favor Technology agreed to become a publicly traded company via a special-purpose acquisition by Quantumsphere Acquisition.

Fortune Favor provides technology consulting services and solutions for medical cold-chain transportation.

Its services cover design, sourcing, supply chain and application support for the handling and delivery of temperature-sensitive products.

The proposed deal implies a pre-money equity value of about $600 million for Fortune Favor.

Boards of both companies have approved the deal, which is still subject to regulatory approvals.