Blueport SPAC to Merge with SingAuto, Valuing Green Cold‑Chain EV Maker at $1.2 Billion

*TL;DR: Blueport Acquisition (Nasdaq: BPAC) will merge with SingAuto, issuing 120 million shares at $10 each and valuing the combined entity at $1.2 billion.

Context Blueport Acquisition Ltd, a Nasdaq‑listed special purpose acquisition company, announced a definitive business combination with SingAuto Inc, a Singapore‑based developer of green cold‑chain logistics technology for smart commercial electric vehicles (CEVs). The deal will create a new holding company listed on Nasdaq, pending regulatory and shareholder approvals.

Key Facts - SingAuto shareholders will receive about 120 million ordinary shares of the new public company, each priced at $10, establishing a $1.2 billion valuation. - The transaction follows a two‑step merger: Blueport merges into its Cayman subsidiary NeoCryo, then NeoCryo’s subsidiary merges with SingAuto, making SingAuto a wholly‑owned subsidiary of the surviving entity. - Yuqiang Liu, SingAuto’s chairman and CEO, expressed excitement about new‑energy refrigerated trucks and rapid tech evolution in cold‑chain logistics. - William S. Rosenstadt, Blueport’s CEO, said the firm had searched diligently for a target and considers SingAuto a uniquely compelling partner. - The combined company will list on Nasdaq as “PubCo” after the closing, expected by the end of 2026.

What It Means The merger gives SingAuto immediate access to public‑market capital, enabling accelerated development of its flagship S1 electric refrigerated vehicle, which can transport frozen, chilled, and fresh produce—including pharmaceuticals—in a single shipment. Blueport’s shareholders gain exposure to a niche but growing segment of the electric‑vehicle market focused on logistics efficiency and sustainability. The partnership also positions the new entity to license its technology and patents to third parties, potentially expanding revenue beyond vehicle sales.

Investors will watch the SEC’s review of the proxy statement and Nasdaq’s listing decision, as well as any post‑closing integration milestones that could signal the speed of product rollout and market penetration.