Baker McKenzie acted as legal counsel to Youlife International Holdings Inc. (“Youlife”), a leading blue-collar lifetime service provider in China, on the successful completion of its business combination with Distoken Acquisition Corporation (“Distoken”), a special purpose acquisition company.
The transaction closed on 9 July 2025, with the combined company, Youlife Group Inc.’s American depositary shares commencing trading on the Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “YOUL” on 10 July 2025.
The listing on Nasdaq is expected to strengthen Youlife’s ability to attract institutional investors and support its international expansion strategy.
The deal team was led by Dan Ouyang, Co-chair of Baker McKenzie’s Asia Pacific and China Capital Markets Practices, and Ke (Ronnie) Li from FenXun’s International Capital Markets Practice. The core deal team also included Yu Ma, Felix Liang and Philip Chi.
Commenting on the transaction, Dan said: “The transaction demonstrates the strength of Baker McKenzie’s capital markets practice in guiding clients through complex regulatory landscape of cross-border SPAC transactions. We are pleased to have supported Youlife in achieving this important milestone that will help accelerate their continued growth and market expansion.”
The successful completion of Youlife’s de-SPAC merger follows Baker McKenzie’s recent representation of Scage International’s business combination with Finnovate and listing on the Nasdaq on 30 June 2025.