LAMF Global Ventures I announced that its board decided to extend the merger deadline to Feb. 16 as it works toward completion of a deal with Nuvo Group. This is the third of up to six one-month extensions the SPAC has available.
The target has developed an FDA-cleared remote pregnancy monitoring platform.
The transaction at deal announcement last August valued Nuvo at a pre-money equity valuation of $269 million and up to approximately $300 million upon Nuvo achieving certain commercial milestones.
If approved, upon the closing of the transaction the combined company is expected to list on the Nasdaq.
Nuvo’s pregnancy monitoring platform enables the delivery of remote non-stress tests and maternal and fetal heart rate monitoring, helping expectant people adhere to their prescribed care plan.
LAMF raised $220 million in a November 2021 IPO with a stated goal at that time to target media, entertainment and sports companies, as well as opportunities within e-commerce and technology. Read more.
