New York, July 31, 2024 (GLOBE NEWSWIRE) -- MKDWELL Tech Inc. (“MKD” or the “Company”), an automotive electronics manufacturer, today announced the completion of its business combination (the “Business Combination”) with Cetus Capital Acquisition Corp. (“Cetus Capital”) on July 31, 2024. The listed company following the Business Combination is MKDWELL Tech Inc., and its ordinary shares and warrants will commence trading on the Nasdaq Stock Market (“Nasdaq”) under the ticker symbols “MKDW” and “MKDWW” respectively on August 1, 2024.

The announcement of the completion of the Business Combination comes after Cetus Capital’s stockholders voted to approve the transaction on July 9, 2024 and all remaining closing conditions were met. Official results of the vote are included in a current report on Form 8-K filed by Cetus Capital on July 10, 2024 with the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov.

More information about the transaction is available in the Company’s registration statement on Form F-4, as amended and supplemented, which includes Cetus Capital’s proxy statement and the Company’s prospectus in relation to the business combination, declared effective by the SEC on June 10, 2024.

Management

The Company will be led by its founder, Chief Executive Officer and Chairman of the Board, Ming-Chia Huang, along with Min-jie Cui as the Chief Financial Officer. The Board of the Company will include Executive Director Ming-Chao Huang, as well as Independent Directors Chih-Hsiang Tang, Chung-Yi Sun and Jung-Te Chang.

Advisors

Sichenzia Ross Ference Carmel LLP acted as legal counsel to MKDWELL Tech Inc. Pryor Cashman LLP acted as legal counsel to Cetus Capital. EF Hutton LLC acted as capital markets advisor to Cetus Capital.

About MKDWELL Tech Inc.

MKD, incorporated in the British Virgin Islands, operates primarily through its key subsidiaries: MKD Jiaxing Company and MKD Shanghai Company in Mainland China, and MKD Taiwan Company in Hsinchu, Taiwan. MKD Jiaxing Company was established in 2017 via an investment initiative by the Science and Technology City of Nanhu District, Jiaxing City, Zhejiang Province, China, aimed at fostering the microelectronics industry in the region. The company acquired land to construct a state-of-the-art research, development, and manufacturing facility, solidifying its presence in Jiaxing and the Yangtze River Delta.

Founded in 2006, MKD Taiwan Company is situated in the Hsinchu Science Park, a key nexus for Taiwan’s technological advancements and a pivotal center for the global semiconductor industry. MKD’s growth has been centered around automotive electronics, which remains a primary focus. MKD is a leading supplier of automotive electronic products for passenger cars, modified commercial vehicles, RVs, and logistics vehicles. MKD’s product portfolio includes intelligent RV control systems, LiDAR sensors, intelligent container control systems for logistics vehicles, and vehicle seat control systems. MKD offers both ODM and OEM customization services to its clients. MKD’s design center in the Hsinchu Science Park and manufacturing facility in the Jiaxing Science and Technology City enable MKD to provide comprehensive design, manufacturing, and supply solutions to its clients.