Data Knights Acquisition announced the deposit of $1.15 million into the SPAC’s trust account, representing 10 cents a share, to extend the deadline for its business combination from May 11 to Aug. 11. The extension is the first of up to two permitted under the company’s governing documents.
The added time is necessary, the SPAC said, to complete its proposed merger with OneMedNet, in a deal with a pro-forma enterprise value of $317 million.
OneMedNet’s data solutions connect healthcare providers and patients, offering direct access to clinical images and the associated contextual patient record.
Assuming no redemptions by Data Knights’ stockholders, aggregate consideration to OneMedNet will be approximately $317 million, including the cash in the SPAC’s trust and $200 million or more of rollover equity. Read more.
