GreenVision in a filing said merger target Accountable Healthcare America’s planned purchase of three medical companies had been terminated by those companies. Under terms of the SPAC’s merger agreement with AHA, the termination of AHA’s own acquisitions constitutes a material adverse effect, and the SPAC said it would give AHA 10 days to salvage the deals. If that falls through, GreenVision said it would start looking at other targets.
The SPAC also withdrew its draft proxy on the AHA deal, pending the outcome of AHA’s negotiations with the three medical companies. GreenVision in August announced the proposed AHA merger in a deal valued at $150 million. Read more.
