Chinese automaker Chijet to merge with new SPAC at 37% lower valuation

Chinese automaker Chijet to merge with new SPAC at 37% lower valuation

FILE PHOTO: Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar/File Photo

Chijet Motor Co on Wednesday agreed to go public in the United States through a merger with a blank-cheque company that gave the China-based automaker a 37% lesser valuation than what it had secured in another deal that was terminated.