MKDWELL Tech Signs Standstill Agreement With Streeterville Capital, LLC

MKDWELL Tech Inc, a microelectronics company, entered into a standstill agreement with Streeterville Capital on March 3. The company operates mainly through its subsidiaries and is engaged in automotive electronics products for passenger cars, converted commercial vehicles, RVs, and logistics vehicles. Its product portfolio includes intelligent RV control systems, laser radar sensors, and automotive seat control systems. The company offers ODM and OEM customization services to its customers.

MKDWELL Tech Inc. (MKD), an automotive electronics manufacturer specializing in intelligent RV control systems, laser radar sensors, and automotive seat control systems, recently entered into a standstill agreement with Streeterville Capital on March 3, 2024 [1]. This agreement comes after the successful completion of MKD's business combination with Cetus Capital Acquisition Corp. on July 31, 2024, enabling the company to commence trading on the Nasdaq Stock Market under the ticker symbols "MKDW" and "MKDWW" [1].

Founded by Ming-Chia Huang, MKD operates primarily through its subsidiaries in Mainland China, Taiwan, and the United States. The company's strategic investments in these regions have solidified its presence in the microelectronics industry. For instance, MKD Jiaxing Company, established in 2017 in Jiaxing City, China, acquired land to construct a state-of-the-art research, development, and manufacturing facility [1].

MKD's product portfolio includes intelligent RV control systems, laser radar sensors, and automotive seat control systems. The company offers customization services to its customers, catering to their specific needs through ODM (original design manufacturer) and OEM (original equipment manufacturer) solutions [1].

The company's management team is led by Ming-Chia Huang, who serves as CEO and Chairman of the Board, along with Min-jie Cui as CFO. The Board of Directors includes Executive Director Ming-Chao Huang and Independent Directors Chih-Hsiang Tang, Chung-Yi Sun, and Jung-Te Chang [1].

Sichenzia Ross Ference Carmel LLP acted as legal counsel to MKDWELL Tech Inc., while Pryor Cashman LLP acted as legal counsel to Cetus Capital, and EF Hutton LLC served as capital markets advisor to Cetus Capital [1].

MKD's entry into the standstill agreement with Streeterville Capital is expected to strengthen its position in the microelectronics industry and provide opportunities for growth and expansion.

References:
[1] MKDWELL Tech Inc. and Cetus Capital Complete Business Combination. (2024, July 31). Retrieved from https://www.globenewswire.com/news-release/2024/07/31/2922254/0/en/MKDWELL-Tech-Inc-and-Cetus-Capital-Complete-Business-Combination.html