Mana Capital Acquisition called an Oct. 25 meeting for shareholders to vote on the proposed merger with Cario Diagnostics. The resigtration statement on the deal is now effective the SPAC added,
Cardio Diagnostics is a precision cardiovascular testing company.
Cardio Diagnostics and Mana Capital announced their merger agreement in May.
The combined company is expected to have a post-transaction equity market capitalization of $175 million, assuming no redemptions. Cardio Diagnostics would have approximately $10 million in gross proceeds raised in 2022 from common stock equity investors prior to closing. Cardio Diagnostics’ cash on the balance sheet prior to closing is expected to fund operations through the end of 2023.
Mana raised $62 million in a November 2021 IPO. Read more.
