Viveon Health Acquisition Corp.(NYSE American: VHAQ) announced that it has signed a letter of intent (LOI) to combine with a platform focusing on cognitive care for the elderly and those with special needs.
Since the transaction is still non-binding, the parties have kept the details to a minimum. But, Viveon did disclose that the deal values the target, Clearday (OTCQX: CLRD), at $250 million.
The company provides an AI-driven platform for the aging population that integrates numerous healthcare innovations into personalized care experiences, which continuously assesses an individual’s cognitive and physical capabilities.
With its autonomous robotics and innovative care treatments, Clearday intends to address the $1.4 trillion burden in annual National Health Expenditures for aging adults.
Under the terms of the letter of intent, Clearday’s existing equity holders expect to convert 100% of their equity into the combined company. Viveon expects to announce additional details regarding the proposed deal once a definitive merger agreement is executed.
Today’s LOI comes almost a month after Viveon unilaterally terminated its combination with Suneva Medical “based upon material breaches” of the merger agreement.
The parties announced the $511 million merger over a year ago in January 2022. San Diego-based Suneva produces a line of anti-aging products and medical devices for cosmetic procedures. It expected to generate about $50 million in revenue in 2022 at the time of the deal’s announcement.
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...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....