AIB Acquisition Corp

AIB

Market cap $42.4M

New York and Hong Kong, Dec. 27, 2023 (GLOBE NEWSWIRE) -- PSI Group Holdings Ltd (“PSI” or the “Company”), a long-established global logistics service provider headquartered in Hong Kong specialized in cross-border air freight services, and AIB Acquisition Corporation (Nasdaq: AIB) (“AIB”), a publicly traded special purpose acquisition company, today announced that they have entered into a definitive agreement (the “Business Combination Agreement”) for a business combination of AIB and PSI (the “Business Combination”) on December 27, 2023. Upon closing of the proposed Business Combination, both AIB and PSI will become wholly-owned subsidiaries of a newly incorporated Cayman Islands company, PS International Group Ltd. (“Pubco”), and Pubco will be the combined company and expects to list its securities on the Nasdaq Stock Market.