Aimfinity Investment, Docter Sign $60 Mln Merger Deal

(RTTNews) - Aimfinity Investment Corp. I (AIMAU), a capital market company, and Docter Inc., a Taiwanese non-invasive blood glucose watch developer, said on Monday that they have inked a merger deal to form a new company.

The merger consideration is $60 million payable by newly-issued shares of the combined company valued at $10 per share. The additional earnout shares may be issuable to Docter shareholders after closing, upon achievement of certain sales targets in 2024 and 2025.

Upon the closing of the transaction, which is scheduled to be closed in the first quarter of 2024, the combined company will be listed on the Nasdaq.

Post transaction, the Aimfinity shareholders will have around 51.92 percent of the combined company, whereas Docter will own approximately 48.08 percent.

However, there is a maximum redemption of existing public shareholders of Aimfinity resulting in remaining balance of trust account of $5 million. The Aimfinity shareholders will have approximately 29.45 percent equity interest, whereas the Docter stockholders will have around 70.55 percent.