Robotics and virtual reality tech provider DIH Holding US and Aurora Technology Acquisition today announced they have entered into a definitive business combination agreement at an enterprise value of approximately $321.9 million.
If approved, DIH is expected to list on the Nasdaq.
The estimated pro forma enterprise value includes an anticipated $20 of DIH net debt at closing, and $58.3 million held in Aurora trust account, subject to redemptions.
In addition, equity holders of DIH will be entitled to receive up to $60 million in stock depending on certain stock price-based thresholds being achieved within five years from closing.
DIH stockholders will roll 100% of their equity holdings into the combined company and will hold approximately 69.4% of the issued and outstanding shares of common stock immediately following the completion of the transaction, again, assuming no redemptions by the SPAC’s shareholders and no exercise of currently outstanding rights and warrants.
Maxim Group is exclusive financial advisor to DIH. Loeb & Loeb is serving as legal counsel for DIH, and Dentons U.S. is legal counsel for ATAK.
The target develops technology to assist people with disability and functional impairments. Read more.
