On October 9, 2023, Big Tree Cloud International Group Limited (Big Tree Cloud), a company devoted to the development, production, and sales of personal care products and other consumer goods in China, and Plutonian Acquisition Corp. (Plutonian), a Nasdaq-listed special purpose acquisition company, announced that they have entered into a definitive agreement for a business combination between Big Tree Cloud and Plutonian. Upon the completion of the business combination, the combined company will become a publicly traded company on the Nasdaq Stock Market. The business combination reflects an initial equity value of approximately US$500 million for Big Tree Cloud. 

Wilson Sonsini Goodrich & Rosati represented Plutonian in the transaction. The Wilson Sonsini team that advised Plutonian on the transaction includes:

Corporate
Weiheng Chen
Jie Zhu
Sally Yin
Athena Yu
Yang Liao

Tax
Derek E. Wallace
Anthony Yanez

For more information, please see the press release. Further coverage can be found at Reuters and Law360 (subscription may be required).