Youlife International and Distoken Acquisition Corporation Announce Definitive Business Combination Agreement
Youlife International to Go Public in the U.S. Through such Business Combination, Opening up a New Horizon for Long-Term Development
SHANGHAI, May 20, 2024 /PRNewswire/ — Youlife International Holdings Inc., a leading blue-collar lifetime service platform in China (“Youlife”), and Distoken Acquisition Corporation (Nasdaq: DIST), a publicly traded special purpose acquisition company (“Distoken”), announced today that they have entered into a definitive business combination agreement (the “Business Combination Agreement”) for a proposed business combination (the “Business Combination”). Pursuant to the Business Combination Agreement, each of Youlife and Distoken will merge with newly-formed subsidiaries of Youlife Group Inc., a Cayman Islands exempted company (“Pubco”), which will serve as the parent company of each of Youlife and Distoken following the consummation of the Business Combination. It is anticipated that the combined company will be listed on the Nasdaq Stock Market under the ticker symbol YOUL.