SPACInsider Logo
Viveon Health Acquisition Corp. (VHAQ) Announces LOI
by Marlena Haddad on 2023-03-01 at 8:56am

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.

Recent Posts
by Nicholas Alan Clayton on 2023-03-20 at 7:15am

two (NYSE:PIAI) announced in an 8-K this morning that it has pushed back its special meeting one week from March 24 to 10 am ET, March 31. Shareholders at the meeting will consider a proposal to extend its transaction deadline from April 1 to January 1, 2024. The SPAC’s sponsor has not yet offered to...

by Kristi Marvin on 2023-03-18 at 12:34pm

Terms Tracker for the Week Ending March 17, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Despite this week’s headlines about bank failures, EF Hutton managed to file both a new S-1 registration statement and price an IPO.  They should have...

by Nicholas Alan Clayton on 2023-03-17 at 5:53pm

Latest SPAC Liquidations: Northern Genesis III, MSD, and Tech and Energy Transition Corp. Northern Genesis Acquisition Corp. III (NGC) to Liquidate on March 24 Northern Genesis III (NYSE:NGC) announced that it will redeem all outstanding shares effective as of the close of business on March 27. Shares will cease trading on March 24 and the per-share...

by Marlena Haddad on 2023-03-17 at 5:52pm

Tech and Energy Transition Corp. (NASDAQ: TETC) announced this afternoon that its shareholders have voted against a proposal to extend the SPAC’s timeline to complete a business combination. Holders of 38,069,946 shares of TETC’s common stock, comprised of 28,495,396 shares of Class A common stock, and 9,575,000 shares of Class B common stock, were present at...

by Marlena Haddad on 2023-03-17 at 12:02pm

Direct Selling Acquisition Corp. (NYSE: DSAQ) announced this morning that it intends to adjourn its extension vote, originally scheduled to be held on March 22, and will reconvene on March 24 at 11:00 a.m. The SPAC has also extended the redemption deadline to March 22 at 5:00 p.m. It is currently facing a completion deadline of March...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved