QSEA merger with Eight Directions Technology Limited
Eight Directions Technology Limited The Company, through its subsidiary in Los Angeles, is a solution provider of premium customized disposable products, specializing in PET cups, lids …
Announced 15 May 2026.
Structure & dilution
SEC-primary termsThe headline number ignores the shares that did not pay $10 — the founder promote, PIPE stock and warrants. This is the same deal with all equity claims counted.
- Break fee
- $1M
Lock-up Period ” means the period beginning on the Closing Date and ending on the earlier of: (A) the date that is one hundred eighty (180) days after the Closing Date; or (B) the date on which the Purchaser completes a liquidation, merger, share exchange or other similar transaction that results in all of the Purchaser’s public shareholders having the right to exchange their ordinary shares for cash, securities or other propertymore ▾less ▴
An effective (post-dilution) figure needs either a stated pro-forma share count or the headline value plus the promote terms; the filings we hold do not yet state enough, and we will not print an estimate built on inventions.
Why headline and effective values differ is covered in headline vs effective deal value, in plain English.
The target: Eight Directions Technology Limited
The business actually being bought — described from SEC primary filings, with projections labelled as projections.
Eight Directions Technology Limited The Company, through its subsidiary in Los Angeles, is a solution provider of premium customized disposable products, specializing in PET cups, lids, and related packaging solutions for a wide range of end markets. The Company combines vertically integrated upstream material source with advanced automated production systems to deliver consistent quality, cost efficiency, and scalable output. With deep capabilities across material engineering, structural design, and high-precision manufacturing, the Company provides comprehensive customization solutions tailored to brand owners, distributors, and foodservice operators. Its product portfolio supports both standard and highly customized applications, meeting evolving market demands for performance, presentation, and sustainability. Backed by a team of seasoned industry professionals, the Company has established a strong reputation for innovation, reliability, and customer-centric execution, positioning the Company as a trusted partner in the global disposable packaging sector.
Eight Directions Technology Limited — every SPAC that has bid for it, and its listed peers
Expensive or cheap?
A price only means something next to what the same kind of business costs on the stock market. This divides what the buyers are paying by what Eight Directions Technology Limited actually sells, and sets the answer against its closest listed comparables — or says plainly when that cannot be done.
SpacBrain’s read on the price
No multiple can be computed
We hold no revenue figure in US dollars for Eight Directions Technology Limited, so there is nothing to divide the price by and no multiple can be struck. It is not recorded as pre-revenue either — this is a gap in our record, not a finding that the company has no sales. The deal values it at $515M regardless.
We have not extracted a revenue figure for this company from its filings yet. That is our gap, not a statement about the business.
Announced equity value (net debt unknown).
Not extracted from the filings yet.
Not computable — no revenue figure has been extracted from the filings yet.
No listed comparable carries a revenue multiple we can use.
What qualifies the figures above
- The target's cash and debt are not in the filings we have, so this is an equity value used as a stand-in for enterprise value.
In plain English
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.