Mana Capital (NASDAQ:MAAQ) announced this morning that its shareholders approved its combination with biopharmaceutical firm Cardio Diagnostics in a special meeting held yesterday.
The press release did not disclose redemption amounts, but MAAQ traded below its trust value of $10 throughout its redemption deadline October 21, and closed yesterday at a low of $5.99.
Nonetheless, the combined company will operate under the name “Cardio Diagnostics Holdings, Inc.,” and will be led by CEO Meeshanthini (Meesha) Dogan, Ph.D., and the rest of its current management team. The company’s common stock and warrants are expected to start trading today on the Nasdaq under the new trading symbols “CDIO” and “CDIOW,” respectively. The warrant exercise price for each Cardio warrant is $11.50.
The parties initially announced their $75 million business combination on May 31. Chicago-based Cardio sells heart health tests direct to consumers via its website and purports to be able to detect whether a patient may experience a heart attack in the near future.
Mana Capital’s stockholders also voted to approve all other proposals presented at the special meeting.
ADVISORS
- The Benchmark Company LLC is serving as the financial advisor to Mana.
- Becker & Poliakoff LLP is serving as legal advisor to Mana.
- Shartsis Friese LLP is serving as legal advisor to Cardio Diagnostics.
Churchill Capital Corp X (NASDAQ:CCCXU) announced the pricing of its upsized $360 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCCXU”, Wednesday, May 14, 2025. The new SPAC aims to conduct a broad search for a business combination target leveraging its teams existing network and expertise. Churchill...
Jena II (NYSE:JENAU) has filed for a $200 million SPAC that brings serial SPAC leader William P. Foley II and his team back into the ring. This pedigree is clear in the terms the team has been able to command with just one right to a 1/20 share in each unit and 24 months to...
At the SPAC of Dawn Investors are set to get an update on Core CPI inflation readings this morning as de-SPACs continue to report on operational advances alongside their first quarter earnings. Among them, eVTOL developer Archer (NYSE:ACHR) noted that it is on track to deliver its first Midnight aircraft to the UAE in the...
Perimeter Acquisition Corp. I (NASDAQ:PMTRU) announced the pricing of its upsized $210 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PMTRU”, Tuesday, May 13, 2025. The new SPAC aims to combine with a target company with that can contribute to the re-industrialization of the United States economy,...
Horizon Space II (NASDAQ:HSPT) has signed a definitive agreement to combine with clinical stage biotech firm SL Bio Ltd. for $5.57 billion in equity consideration. Taipei, Taiwan-based SL Bio is developing drug candidates to treat several cancer types while also selling over-the-counter beauty products derived from natural extracts. The combined company is expected to trade...