Aimfinity Investment I and Docter Inc., a Taiwanese non-invasive blood glucose watch developer, today announced a definitive merger agreement for $60 million.
If approved, upon closing Docter expects to list on the Nasdaq.
Assuming no redemptions, Aimfinity shareholders will have approximately 51.92% equity interest in the combined company and the Docter stockholders will own 48.08% equity. If, however, there is a maximum redemption of Aimfinity stock resulting in a trust balance of $5 million, the Aimfinity shareholders will have approximately 29.45% equity interest.
US Tiger Securities is serving as M&A and Capital Markets advisor and Robinson & Cole is legal advisor to Aimfinity. Winston & Strawn is legal advisor to Docter.
Since 2016, Docter, along with its subsidiary, Horn Enterprise, has been developing a non-invasive blood sugar trend monitoring technology, alleviating the necessity for blood sampling. The company operates Docter brand watches and employs Docter Cloud platform technologies to facilitate health monitoring, vascular elasticity tracking, and myocardial infarction prediction.
Aimfinity raised $70 million in an April 2022 IPO. Read more.
