Viveon Acquisition in a regulatory filing said its amended merger agreement with Suneva Medical lowers the minimum cash condition to $30 million from the original $50 million.
Suneva is based in San Diego, CA, and develops regenerative aesthetics solutions.
The SPAC also said the agreement was modified to extend the outside closing date to Dec. 31.
As announced in January, the deal had a pro forma equity value of $511 million.
Shareholders approved a deadline extension on the deal in March, when the SPAC’s sponsor deposited $720,000 into the trust account. Additional monthly deposits of $240,000 are required for the ongoing extension, the SPAC said in March. Read more.
