LAMF Global Ventures I extended the completion date on its deal with Nuvo Group to May 16.
The SPAC’s shareholders approved the deal earlier this month, although redemptions left $434,982 in cash in the trust account. The SPAC said 39,422 Class A shares (representing approximately 1.3% of the shares prior to redemptions) remain outstanding.
The transaction at deal announcement last August valued Nuvo at a pre-money equity valuation of $269 million and up to approximately $300 million in earnouts upon Nuvo achieving certain commercial milestones.
Nuvo offers an FDA-cleared remote pregnancy monitoring platform. Read more.
