CA Healthcare Acquisition said its Form S-4 outlining the proposed merger with LumiraDx has been declared effective by the SEC. The SPAC set a Sept. 28 meeting for shareholders to vote on the $3 billion deal. The parties last month cut the deal valuation by 40% to its current level, citing market conditions.
If approved, LumiraDx is expected to trade on the Nasdaq under LMDX.
LumiraDx has raised $700 million in equity capital including investments by Morningside Ventures, U.S. Boston Capital Corporation, The Bill & Melinda Gates Foundation, Petrichor Healthcare Capital Management and other strategic partners. The company had originally planned a traditional IPO before taking the SPAC route to market.
CA Healthcare raised $115 million in its IPO.
LumiraDx is a point-of-care diagnostics testing company. Read more.
