Achari Ventures Holdings I said its completion deadline was extended to June 19, following the deposit of $22,037.64 into trust to benefit shareholders for the additional time. This is the fifth of six available monthly extensions.
Achari last month filed a prospectus outlining its $176 million deal with Vaso.
The target is a diversified medical technology company with several specialties: managed IT systems and services, including healthcare software solutions and network connectivity services; professional sales services for diagnostic imaging products; and design, manufacture and sale of proprietary medical devices.
The merger was announced in December at a pro forma equity value of approximately $176 million.
If approved, Vaso stock and warrants are expected to list on the Nasdaq
As of May 19, Achari said it held $6,265,453.81 in trust. Achari has a working capital agreement for borrowing up to $350,000 from Vaso. Advanced funds would be forgiven by Vaso upon the closing of the merger, provided that any funds in excess of $100,000 will be added to the amount included in the definition of unpaid SPAC expenses. Read more.
