Viveon Health Acquisition filed a preliminary proxy on its proposed merger with San Diego-based Suneva Medical, which develops regenerative aesthetics solutions.
Viveon announced yesterday that it amended the merger agreement with Suneva to drop the minimum cash condition to $30 million from the original $50 million. 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.
Viveon 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 at the time. Read more.
