Corner Growth Acquisition Announces Resignation of Director and Changes in Management Team

Corner Growth Acquisition Corp. (OTCMKTS:COOLU) recently disclosed significant changes within its leadership and management structure. The company, in a Form 8-K filing with the Securities and Exchange Commission dated December 5, 2024, announced the resignation of Marvin Tien as a director, effective December 15, 2024.

The departure of Marvin Tien from his position as a director comes as part of a broader set of changes outlined in a purchase agreement executed on August 15, 2024. According to the agreement, the company’s former sponsor, CGA Sponsor, LLC, transferred 5,895,000 Class A Ordinary Shares to Ringwood Field, LLC, resulting in the resignation of all the company’s officers and directors, with the exception of Mr. Tien, who remained as a director.

Further proceedings detailed in the purchase agreement led to the mailing of an Information Statement to Corner Growth Acquisition Corp.’s shareholders on December 5, 2024. The Information Statement served to inform shareholders about the transactions envisaged by the purchase agreement and the resultant changes in the composition of the company’s board.

Additionally, the company announced that Hao Tian will step down from his roles as an officer and director, effective December 15, 2024. In his place, Xixuan Hei will assume the responsibilities of Chief Executive Officer, Chief Financial Officer, and Director. Ms. Hei brings a wealth of experience in finance, digital innovation, and legal-tech solutions to her new roles. She is noted as the founder of Herr Gallery, a WebVR NFT platform that emphasizes innovation in virtual spaces and digital art.

Xixuan Hei holds multiple academic qualifications, including a Master of Science in Finance from Johns Hopkins University, a Master of Science in Business Intelligence & Analytics from Stevens Institute of Technology, and a Bachelor of Economics in International Economy & Trade from North China University of Technology. Currently a CFA Level III candidate, Ms. Hei’s diverse background is expected to bring fresh perspectives to Corner Growth Acquisition’s leadership team.

The Form 8-K filing also confirmed Corner Growth Acquisition Corp.’s status as an emerging growth company, in accordance with Rule 405 of the Securities Act of 1933. Moreover, it detailed compliance with the guidelines set for emerging growth companies under Rule 12b-2 of the Securities Exchange Act of 1934.

The report concluded with the signature of Hao Tian, the outgoing Chief Executive Officer of Corner Growth Acquisition Corp., confirming the contents of the disclosure submitted to the SEC on behalf of the company.

Overall, the announcements point towards a period of transition and evolution within Corner Growth Acquisition Corp., marked by key changes in leadership and a renewed focus on steering the company’s growth trajectory in the future.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Corner Growth Acquisition’s 8K filing here.

About Corner Growth Acquisition

Corner Growth Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Palo Alto, California.