Viveon Health Acquisition and Clearday amended the terms of their merger agreement, including an increase in the deal consideration from $250 million to $500 million (plus the aggregate exercise price for all Clearday options and warrants).
Holders of Clearday’s stock at the effective time of the merger will be entitled to receive a pro rata portion of the earnout shares.
The target is a longevity technology company using an integrated platform of robotic companion care and AI-driven technology to serve the senior adult care sector. Clearday is transitioning from owning and operating senior-care facilities into a technology business serving the longevity care needs facing the aging US population.
Viveon had about $20 million on hand when the merger was announced in April. The SPAC raised $201.25 million in a December 2020 IPO, although redemptions since then have carved out the trust.
Viveon has up to March of next year to complete the deal. Read more.
