AIRE Inc. Merges with OceanLight Acquisition Corporation

NEW YORK, Sept. 28, 2026 /CourierPR/ -- AIRE Inc., a home textile and green sleep technology company, has announced its entry into a significant business agreement with OceanLight Acquisition Corporation, a special purpose acquisition company (SPAC). The agreement, which includes a merger, will see AIRE Inc. becoming a publicly traded company through its merger with OceanLight.

According to the terms of the Agreement and Plan of Merger, AIRE Inc. will merge with and into OceanLight's wholly owned subsidiary, Merger Sub Ltd., with AIRE Inc. surviving as a wholly owned subsidiary of OceanLight. Simultaneously, OceanLight will merge with and into the Purchaser, OceanLight Global Group Inc., with the Purchaser surviving as the publicly traded company. The deal is expected to provide AIRE Inc. with greater access to the capital markets and support its continued growth and development.

The transaction is subject to several conditions, including shareholder approvals, regulatory approvals, and the satisfaction of certain customary closing conditions. The Agreement provides for a Company Net Value of $1.0 billion. The number of Closing Payment Shares to be issued to AIRE Inc.'s shareholders will be equal to the Company Net Value divided by $10.00, resulting in 100 million shares.

The registration statement on Form F-4 is expected to be declared effective by the U.S. Securities and Exchange Commission (SEC), and the approval of the Proposed Transaction by the shareholders of OceanLight and AIRE, respectively, is also required. Additionally, the approval by Nasdaq of the additional listing application for the Closing Payment Shares is necessary for the transaction to proceed.

A more detailed description of the Proposed Transaction and a copy of the Agreement will be included in a Current Report on Form 8-K to be filed by OceanLight with the SEC. The report will be available on the SEC’s website at www.sec.gov. Investors and security holders of OceanLight are urged to read the registration statement, the proxy statement/prospectus, and all other relevant documents filed or that will be filed with the SEC in connection with the Proposed Transaction.

The press release also notes that the proposed business combination is subject to the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. It further mentions that forward-looking statements in the press release are subject to risks and uncertainties, including the impact of the COVID-19 pandemic and changes in laws and regulations.