AIRE Inc., a Cayman Islands exempted home textile and green sleep technology company, has entered into an Agreement and Plan of Merger with OceanLight Acquisition Corporation, a Cayman Islands exempted special purpose acquisition company. Under the proposed transaction, OceanLight would merge into its wholly owned subsidiary, AIRE Global Group Inc., which would remain as the publicly traded company, while another subsidiary, OCLT Merger Sub Ltd., would merge into AIRE, leaving AIRE as a wholly owned subsidiary. The agreement provides for a Company Net Value of $1.0 billion, with Closing Payment Shares calculated by dividing that value by $10.00, or 100 million shares. The transaction has been approved by OceanLight's board and authorized by AIRE, but still requires shareholder and regulatory approvals, an effective Form F-4 registration statement, and Nasdaq approval of the additional listing application. OceanLight securities trade under OCLTU, OCLT, OCLTR and OCLTW. AIRE said the transaction is intended to improve its access to capital markets as it expands its U.S. textile trading business.