AlphaVest Acquisition Receives Shareholders' Approval ForThe Previously Announced Business Combination Between AlphaVest Acquisition And AMC Corporation; Both Parties Have Entered Into Binding Agreements For A Private Placement Of $8M Of Common Stock And Common Stock Purchase Warrants Initially Exercisable At $10.00 Per Share

NEW YORK, Sept. 09, 2025 (GLOBE NEWSWIRE) -- AlphaVest Acquisition Corp (NASDAQ:ATMV) (the "Company" or "AlphaVest") and AMC Corporation ("AMC"), a security and safety technology solutions company, today announced that AlphaVest shareholders voted to approve the previously announced business combination between the two companies (the "Business Combination") at AlphaVest's Extraordinary General Meeting held on September 5, 2025. In addition, AlphaVest and AMC announced that the parties have entered into binding agreements for a private placement of $8 million of common stock and common stock purchase warrants initially exercisable at $10.00 per share, subject to adjustment, to be consummated simultaneously with the consummation of the Business Combination.

Shengwei (Sean) Da, Chairman of the Board and Chief Executive Officer of AMC, said, "We are thrilled that AlphaVest's shareholders voted to approve the proposed transaction and we thank shareholders for their continued support. We believe the Business Combination will accelerate our growth trajectory and the development and go-to-market strategy for our new products, including our industrial warehouse solution featuring an AI-powered patrol and incident response robot. We are proud of our team for quickly bringing our innovative warehouse solution from design stage to prototype this year and are encouraged by our testing and validation results in recent months. We are seeing strong early customer interest following our recent product showcases in Japan and Las Vegas, and we are hoping to deliver our first commercial version of this product by early 2026."

In addition to the Business Combination Proposal, all other proposals necessary to complete the Business Combination were approved. Details of the complete results of the Extraordinary General Meeting will be included in a Current Report on Form 8-K, which will be filed by AlphaVest Acquisition Corp.

The closing of the Business Combination is expected to occur in the coming weeks, subject to the satisfaction of customary closing conditions.

Upon closing, the combined company will operate as AMC Robotics Corporation and its ordinary shares are expected to trade on the Nasdaq Capital Market under the new ticker symbol "AMCI."

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