CHP Merger in an 8-K filing disclosed it has issued a promissory note for up to $1.5 million from its sponsor, with funds to be used for working capital.
The SPAC is in a pending merger with Integrity Implants d/b/a Accelus, a medical technology company.
Announced in November, the deal gives the merged companies an enterprise value of $482 million.
Funding includes the $300 million held in the SPAC’s trust, as well as $414 million in Accelus rollover equity. CHP stockholders have already granted the company a deadline extension on the deal. Read more.
