NEW YORK, NY. – September 17, 2018 – Becker, a multi-practice commercial law firm with attorneys, lobbyists and other professionals at offices throughout the East Coast, represented HF Foods Group in its business combination with a NASDAQ special purpose acquisition company (SPAC) Atlantic Acquisition Corp., which was renamed as HF Foods Group Inc. after the business combination. The total transaction value is approximately $300 million.
HF Foods Group is a leading foodservice distribution company in the Asian/Chinese restaurant market of the United States, and serves over 3,200 restaurants across 10 states, including North Carolina, Florida, Georgia and Virginia.
Becker’s corporate shareholder Jie Xiu, who led the transaction team, noted, “This new combination will allow HF Foods Group to expand its customer base, streamline infrastructure and undertake strategic expansion globally.” The New York-based Becker team advising HF Foods Group also included corporate shareholder Brian Daughney and associate Sarah Klein.
HF Foods Group began trading on the NASDAQ on August 23, 2018, under the trading symbol HFFG and celebrated a NASDAQ bell-ringing ceremony on September 5, 2018.
A SPAC offering is a publicly listed company with no operations that raises money from investors via an initial public offering (IPO) with the intended purposes of funding a reverse merger or acquisition with an operating company. Becker attorneys have years of experience in these transactions and can be relied upon to counsel all aspects of the transaction. Becker analyzes whether the transaction is appropriate for its client, assists in the negotiation of the terms and drafts and reviews all necessary documentation.
Becker, with headquarters in Fort Lauderdale, Fla., is a multi-practice commercial law firm with attorneys, lobbyists and other professionals at offices throughout the East Coast. More information is available at beckerlawyers.com.