Motion Acquisition in an 8-K filing included an updated investor presentation highlighting its proposed merger with Ambulnz, a provider of last-mile telehealth and integrated medical mobility services.
Announced in March, the deal has an equity value of $1.1 billion.
The new company is expected to receive approximately $225 million of cash and cash equivalents assuming no redemptions by Motion’s pre-combination stockholders. As part of the transaction, Motion has a fully committed PIPE of $125 million led by Light Street Capital with participation by existing stockholder Moore Strategic Ventures, as well as up to $115 million of cash held in Motion’s trust account.
Upon closing, the company will be named DocGo and list on the Nasdaq under DCGO. Read more.
