Board of Directors Determines Not to Proceed with Proposed Combination; Company Continues to Evaluate Strategic Alternatives
HONG KONG, Sept. 14, 2026 (GLOBE NEWSWIRE) -- 707 Cayman Holdings Limited (Nasdaq: JEM) ("707" or the "Company"), a Hong Kong-based company that sells quality apparel products and provides supply chain management solutions, today announced that its Board of Directors has determined not to proceed with the previously announced proposed acquisition of Crucial Innovation Inc. ("CINV").
The Board reached its determination following further review and evaluation of the proposed transaction. The term sheet signed on 17 August, 2026 was non-binding in all material respects, and no definitive agreements with respect to the proposed transaction were entered into by the Company. The Company has notified CINV of the termination, and neither party has any continuing obligation to pursue the proposed combination.
The Company's Board of Directors and management remain committed to pursuing opportunities that they believe are in the best interests of the Company and its shareholders, and the Company continues to evaluate strategic alternatives to enhance long-term shareholder value. The Company will provide further information as and when required by applicable law and the rules of the Nasdaq Stock Market.
About 707 Cayman Holdings Limited
707 Cayman Holdings Limited (Nasdaq: JEM) is a Hong Kong-based company that sells and distributes apparel products and provides supply chain management solutions. Its Class A ordinary shares are listed on the Nasdaq Capital Market under the symbol "JEM."
For additional information, please refer to the Company's public filings with the U.S. Securities and Exchange Commission and its investor communications.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's evaluation of strategic alternatives and the anticipated effects of the termination of the Term Sheet. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including the risk that the Company does not identify or complete any alternative transaction. Readers are encouraged to review the Company's filings with the U.S. Securities and Exchange Commission for a discussion of these risks. The Company undertakes no obligation to update any forward-looking statements except as required by applicable law.
707 Cayman Holdings Limited Contact:
HBK Strategy Limited
ir@hbkstrategy.com
+852 2156 0223
