CA Healthcare Acquisition Corp. (NASDAQ:CAHC) announced in a press release today that its shareholders approved its combination with medical device-maker LumiraDx at a shareholder vote held earlier today.
Although the press release did not disclose information on its redemptions, CAHC traded above $10 throughout its redemption deadline September 24.
The combined company will begin trading on Nasdaq on September 29, under the ticker symbol “LMDX” for the common shares and “LMDXW” for the warrants assumed by LumiraDx from CAHC.
CH Healthcare originally announced its $5 billion combination with LumiraDx on April 7, but on August 20, CA Healthcare slashed the valuation by 40% from $5 billion to $3 billion due to “the recent market environment for publicly traded diagnostic companies, general market declines in COVID-19 testing volumes, and feedback from CA Healthcare advisors and shareholders.”
LumiraDx has developed a pair of diagnostic systems designed to decentralize testing for a range of conditions including COVID-19. Its platform is being used by the CVS (NYSE:CVS) network in the US and Boots pharmacies in the UK.
ADVISORS
- Evercore, Inc. and Raymond James & Associates, Inc. are serving as financial advisors to LumiraDx
- BTIG, LLC is serving as financial advisor and capital markets advisor to CA Healthcare Acquisition Corp
- Fried, Frank, Harris, Shriver & Jacobson LLP and Goodwin Procter LLP are serving as legal advisors to LumiraDx
- Sidley Austin LLP is serving as legal advisor to CA Healthcare Acquisition Corp
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 9. The SPAC plans to use this time to further engage with its shareholders as the ballot includes a variety of additional...
Latest Non-Redemption Agreements: EVe Mobility EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement On June 5, 2023, EVe Mobility Acquisition Corp. (NYSE:EVE) and the Sponsor entered into non-redemption agreements with unaffiliated third party investors, pursuant to which the Investors have, in connection with the Extension Meeting, agreed not to redeem, or to reverse and revoke any prior...
Latest SPAC Liquidations: ST Energy Transition I, MELI Kaszek Pioneer Corp. ST Energy Transition I Ltd. (STET) to Liquidate on June 7 ST Energy Transition I Ltd. (NYSE:STET) announced today that the Board of Directors has elected to dissolve and liquidate the company. Net of taxes and dissolution expenses, the per-share redemption price for the...
Worldwide Webb Acquisition Corp. (NASDAQ: WWAC) announced this afternoon that it has secured a $5 million PIPE for its proposed merger with consultancy firm Aeries Technology. While most PIPEs are priced at $10 per share, Worldwide Webb’s $5 million subscription agreement was executed at just $4.48 per share in a private placement to be completed concurrently...
Metals Acquisition Corp. (NYSE: MTAL) announced this afternoon that its shareholders have approved its acquisition and business combination with the CSA Copper Mine from Glencore (LON:GLEN) at a special meeting held earlier today. The business combination and merger were overwhelmingly approved as both proposals received 27,538,130 shares in favor of it and just 455,506 shares against it. In...