Aimfinity Investment Corp. I (“Aimfinity”) (NASDAQ:AIMAU), a Cayman Islands incorporated special purpose acquisition company listed on the Nasdaq Global Market, and Docter Inc. (“Docter”), a Taiwanese
Aimfinity Investment Corp. I (“Aimfinity”) (NASDAQ:AIMAU), a Cayman Islands incorporated special purpose acquisition company listed on the Nasdaq Global Market, and Docter Inc. (“Docter”), a Taiwanese non-invasive blood glucose watch developer, today announced that they have entered a definitive merger agreement (the “Merger Agreement”) pursuant to which a newly established subsidiary of Aimfinity will become a publicly listed company combining Aimfinity and Docter (the “Combined Company”) upon the closing of the transaction contemplated therein (the “Proposed Transaction”). Upon closing, the Combined Company expects to list its ordinary shares on Nasdaq.
As provided in the Merger Agreement, the merger consideration is $60,000,000, payable by newly-issued shares of the Combined Company valued at $10.00 per share. Additional earnout shares may be issuable to Docter stockholders after closing, upon achievement of certain sales targets in 2024 and 2025.
Following the closing, assuming no redemption by existing public shareholders of Aimfinity, the Aimfinity shareholders will have approximately 51.92% equity interest in the Combined Company and the Docter Stockholders will have approximately 48.08% equity interest in the Combined Company. If, however, there is a maximum redemptions of existing public shareholders of Aimfinity resulting in remaining balance of trust account of $5,000,000, the Aimfinity shareholders will have approximately 29.45% equity interest in the Combined Company and the Docter stockholders will have approximately 70.55% equity interest in the Combined Company.
