Viveon Health Acquisition, Clearday announce letter of intent to merge

Viveon Health Acquisition Corp. (VHAQ) announced that it has identified and entered into a letter of intent with a business combination target company, Clearday (CLRD). Under the terms of the letter of intent, Clearday’s existing equity holders would convert 100% of their equity into the combined public company. The proposed transaction values Clearday at $250M. Viveon expects to announce additional details regarding the proposed business combination when a definitive merger agreement is executed. Completion of a business combination with Clearday is subject to, among other matters, the completion of due diligence, the negotiation of a definitive agreement providing for the transaction, satisfaction of the conditions negotiated therein and approval of the transaction by the board and stockholders of both Viveon and Clearday. "There can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated on the terms or timeframe currently contemplated, or at all," the company said. "Clearday is an ideal merger partner for Viveon Health as it is a transformative healthcare technology company at its inflection point of rapid growth – and addresses an underserved, large, and expanding market. As operators ourselves in the healthcare technology space, our hands-on diligence revealed the Clearday team’s deliberate expansion and acceleration of their longevity-tech business plan impacting the arc from home to residential care facilities. By leveraging its operational excellence and history in longevity care and bolting on AI-driven solutions to monitor mental and physical health, its solutions can deliver real-time engagement with individuals and their families through robotic-assisted companion care designed to deliver support at any setting. I look forward to working with Jim and the rest of the Clearday team to execute their global sales channel expansion and market development plan poised to deliver growth and shareholder value," said Jagi Gill, CEO and Chairman of Viveon Health.