Helport AI Limited and Tristar Acquisition I Corp. Announce Closing of Business Combination and Listing on Nasdaq

SINGAPORE and BURLINGTON, Mass., Aug. 02, 2024 (GLOBE NEWSWIRE) — Helport AI Limited (together with its subsidiaries, “Helport”) (Nasdaq: HPAI), an AI technology company that powers enterprise customer service centers with intelligent products, solutions and a digital platform, and Tristar Acquisition I Corp. (“Tristar”) (NYSE: TRIS), a special purpose acquisition company, today announced the completion of their previously announced business combination. Helpport’s common shares and warrants will begin trading on Nasdaq under the new ticker symbols “HPAI” and “HPAIW,” respectively, on Monday, August 5, 2024. The business combination was approved by Tristar shareholders at an extraordinary general meeting of shareholders on August 1, 2024.

Mr. Guanghai Li, CEO of Helpor, said: “Today is an extremely proud moment and milestone for our company, our employees and our shareholders as we begin our journey as a public company. We expect the IPO to accelerate our product development and service enhancements and increase our brand awareness in the U.S. The gross proceeds from the transaction will allow us to capitalize on the growing market for AI-based business processes and enhance the efficiency and growth potential of our customers’ businesses. Today’s announcement is another step in realizing this vision, reflecting years of innovation and focus. We believe that the closing of this business combination will accelerate our company’s growth while enabling us to begin the next phase of our journey as a public company.”

Tristar CEO Mr. Xiaoma (Sherman) Lu said: “Helport is unique in terms of technology and the ability to revolutionize the contact center and customer service industry. As a public company, Helpport expects to have the platform to fully develop its vision, achieve financial progress, and expand its reach and market position. We are excited about the future and continue to work with Guanghai and the entire management team in the public phase.”

Advisors

Legal advisors to Tristar were Ellenoff Grossman & Schole LLP, Ogier and Rajah & Tann.

Hunter Taubman Fischer & Li LLC and Ogier and Reed Smith Resource Law Alliance served as legal advisors to Helpport.

About Helpport

Helpport is dedicated to improving the customer experience. Helpport’s mission is to provide frontline service workers with expert, real-time guidance and to enrich every customer interaction with AI technology, enabling contact center agents to deliver expert-level conversations. Helpport also offers AI-enabled agents for clients with outsourcing needs. Helpport’s AI Management Suite gives managers visibility into agent activity, allowing them to focus their time where they are needed most. For more information, visit the Helpport website: https://ir.helpport.ai/.

About Tristar Acquisition I Corp.

Tristar Acquisition I Corp. was a blank check company formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more companies worldwide.

Forward-looking statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, Helpport’s business plan and prospects. These forward-looking statements involve known and unknown risks and uncertainties and are based on Helpport’s current expectations and projections regarding future events that Helpport believes may affect its financial condition, results of operations, business strategy and financing needs. Investors can identify these forward-looking statements by words or phrases such as “anticipates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. Helpport undertakes no obligation to update or publicly revise any forward-looking statements to reflect subsequent events or circumstances or changes in its expectations, except as required by law. Although Helpport believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. Helpport cautions investors that actual results may differ materially from those expected and encourages investors to review other factors that could affect future results included in Helpport’s registration statement and other documents filed with the U.S. Securities and Exchange Commission.

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