Viveon Health Acquisition, Clearday amend merger agreement

Viveon Health Acquisition and Clearday, announced they have amended the terms of their previously announced Merger Agreement, dated as of April 5, 2023. Pursuant to the terms of the Merger Agreement, a business combination between Viveon and Clearday will be effected through the merger of a wholly owned subsidiary of Viveon with and into Clearday, with Clearday surviving the merger as a wholly owned subsidiary of Viveon. The amendment to the Merger Agreement provides for, among other things, an increase in the merger consideration from $250,000,000 to $500,000,000, payable in shares of Viveon’s common stock, that holders of all of Clearday’s capital stock at the effective time of the Merger will be entitled to receive a pro rata portion of the earnout shares, and amending the mechanics for appointing a successor Clearday representative.