8i Acquisition 2 filed a registration statement and preliminary proxy outlining terms of its proposed merger with Singapore-based EUDA Health Limited, a digital health platform.
A shareholder vote date has not yet been published.
The two parties earlier this week amended their share purchase agreement to reduce the consideration payable by the SPAC and limit the earn-out payment available to the seller of EUDA Health.
8i and EUDA Health agreed to revise the deal, resulting in a pro forma enterprise value (assuming no redemption at closing) for the combined company of $172 million.
EUDA Health revised its financial projections for 2022 to 2026 to account for the delays caused by the ongoing COVID-19 restrictions in some overseas markets, such as Indonesia and India, where EUDA Health has plans to expand into from 2022 to 2026.
The deal had an enterprise value of $583 million when announced in April. Read more.
