Viveon Health (NYSE:VHAQ) announced this afternoon that it has amended the outside closing date and reduced its minimum cash closing condition in connection to its proposed merger with aesthetic medical treatment company Suneva.
The parties amended the merger agreement today to extend the outside closing date to December 31, 2022. Additionally, Viveon and Suneva reduced the amount of parent closing cash required as a closing condition from $50 million to $30 million, net of company expenses and parent expenses and net of repayment of the $1.5 million Subordinate Convertible Promissory Note issued by Suneva to Intuitus Suneva Debt LLC.
Furthermore, the term “Parent Expenses” was amended to include Viveon operating expenses, severance payments and deferred compensation.
Viveon is funding the transaction with about $203 million from its current trust and supplemented this with a $10 million PIPE from undisclosed investors.
The SPAC initially announced the $511 million deal with D-Wave earlier this year on January 12, 2022. The San Diego-based company produces a line of anti-aging products and medical devices for cosmetic procedures.
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...