By Will Feuer
Bestpath IoT Technology Co., which sells hydrogen-fuel-cell-powered vehicles in China, said it plans to go public by merging with special-purpose acquisition company Aquaron Acquisition Corp. in a deal valued at $1.2 billion.
The combined company would operate under a holding entity called Bestpath Group Ltd. and potentially trade on the Nasdaq.
The companies said Bestpath plans to expand its manufacturing capabilities through a facility in Shanghai that is operated by its wholly-owned subsidiary, Huture Motors (Shanghai) Co.
Write to Will Feuer at Will.Feuer@wsj.com