Viveon Health Acquisition and Clearday, a longevity technology company using an integrated platform of robotic companion care and AI-driven technology to serve the senior adult care sector, have entered into a definitive merger agreement. Clearday is transitioning from owning and operating senior-care facilities into serving the longevity care crisis facing our aging population. The company’s care solution is a combination of AI-enabled robotics and software, delivered in a Platform-as-a-Service for existing resident care facilities. The company’s product portfolio targets a global adult care services market of $1.75T with an 8.5% CAGR by 20262.The combined company’s pro forma equity valuation is expected to be approximately $370M. VHAQ currently has $20M held in a trust account established in connection with VHAQ’s IPO. VHAQ will issue 25 million shares to security holders of Clearday. Clearday security holders may also receive up to an additional five million earn out shares if the company achieves profitability for a 12 month period within the first five years after the closing of the transaction. The consummation of the transaction is subject to approval by Clearday’s stockholders, Viveon Health’s stockholders and other customary closing conditions, including approval of Clearday for listing on the NYSE American. The proposed business combination is expected to be completed in Q3.
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Published first on TheFly
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