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.


At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...