What You Should Know:
– Clearday, an innovative longevity technology company using an integrated platform of robotic companion care and AI-driven technology to serve the senior adult care sector, and Viveon Health Acquisition Corp., a special purpose acquisition (SPAC) company have entered into a definitive merger agreement.
– The combined company’s pro forma equity valuation (assuming no share redemptions) is expected to be approximately $370M. VHAQ currently has $20M held in a trust account at Morgan Stanley with Continental Stock Transfer & Trust Company acting as trustee, which was established in connection with VHAQ’s IPO.
– Under the terms of the proposed transaction, VHAQ will issue 25 million shares to security holders of Clearday. Clearday security holders may also receive up to an additional five million earn out shares (“Company Earn Out Shares”) if the company achieves profitability for a 12 month period within the first five years after the closing of the transaction.
Clearday Background
Clearday is transitioning from owning and operating senior-care facilities into a high-growth technology business serving the massive, pressing, and expensive longevity care crisis facing our aging population. The Company’s care solution is a combination of AI-enabled robotics and software, delivered in a Platform-as-a-Service that is a drop-in modernization solution for existing resident care facilities which improves patient outcomes, increases staff efficiency, and unlocks premium revenue opportunities for operators.
Clearday has positioned itself to become the industry’s API for aging in place, capable of expanding across the aging continuum to meet patient needs in residential care and skilled nursing facilities, and eventually as they age at home. Only Clearday’s platform integrates the necessary autonomous companionship, care intelligence, and patient data platform to address the challenges in the massive longevity care space.
