By Kyle Morris
Spectral MD Holdings Ltd. said Tuesday that it has agreed to combine with special-purpose acquisition company Rosecliff Acquisition Corp I, valuing the company at around an enterprise value of $170 million.
The Texas-based predictive-analytics company said the deal is equivalent to around 101 pence a share. Spectral MD intends to cancel the admission of its stock on the AIM market.
The deal is expected to deliver proceeds to Spectral MD of more than $20 million. Net proceeds from the transaction will be used to accelerate readiness for potential federal contracts, for commercialization opportunities in the U.S., European Union and U.K., and to develop additional clinical applications.
Upon completion of the deal, the combined company will operate as Spectral AI and be listed on Nasdaq under the symbol MDAI.
The proposed transaction is expected to be completed in the third quarter.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
April 11, 2023 02:42 ET (06:42 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。