CADV Ventures to Go Public Through Merger with Miluna Acquisition Corp

Apr 28, 2026
CADV Ventures S.A., an AI software company based in Warsaw, will merge with Miluna Acquisition Corp to form Kukugan Corp, which will become a publicly listed company valued at about $408 million.

CADV Ventures S.A. and Miluna Acquisition Corp have entered into a definitive agreement to merge and create a new publicly listed company named Kukugan Corp, announced in a press release.

The transaction values CADV Ventures at a pre-money equity value of 300 million dollars, with an implied enterprise value of approximately 408 million dollars, assuming no redemptions by Miluna shareholders. Upon completion, CADV Ventures shareholders will roll all of their equity into the new company, which will be listed on a national securities exchange.

Following the merger, CADV Ventures' current management team will continue to lead the combined company, with Shang Ju Lin remaining as Chief Executive Officer. The board will include members from both companies and independent directors with industry experience.

The transaction is expected to close in the second half of 2026, subject to shareholder and regulatory approvals. The companies may also pursue additional financing options such as a private investment in public equity or an equity line of credit to support growth initiatives.

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