Business Combination with Achari Ventures Holdings Corp. I is Expected to Be Completed in First Quarter of 2024
- Merger with Achari Ventures Holdings Corp. I (NASDAQ:AVHI) expected to improve capital market access for existing and prospective investors of Vaso Corporation (OTCQX:VASO).
- The transaction values Vaso at a pro forma equity value of approximately $176 million at $10 per share.
- Upon closing of the transaction, existing Vaso shareholders will receive consideration consisting entirely of shares of the surviving public combined company.
PLAINVIEW, NY / ACCESSWIRE / December 7, 2023 / Vaso Corporation ("Vaso," or "the Company"), a diversified medical technology company currently trading on the OTCQX market, today announced its plan to uplist from the OTCQX market to the Nasdaq Stock Market via a business combination (the "Transaction") with Achari Ventures Holdings Corp. I ("Achari", NASDAQ:AVHI). Upon the closing of the Transaction, Vaso common stock and warrants are expected to be listed on Nasdaq Capital Market ("Nasdaq") under the ticker symbols "VASO" and "VASOW", respectively. Vaso's common stock will continue to trade on the OTCQX market under the symbol "VASO" until trading on Nasdaq commences following the consummation of the proposed business combination.
Vaso is led by Chief Executive Officer Jun Ma, who will continue to lead the combined company following the proposed business combination. Achari is led by Chief Executive Officer Vikas Desai, who is also Chairman of Achari's Board of Directors.
Company Overview
Vaso Corporation is a diversified medical technology company with several distinctive but related 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 Company operates through three wholly owned subsidiaries:
- VasoTechnology, Inc. provides network and IT services through two business units: VasoHealthcare IT Corp., a national value added reseller of Radiology Information System ("RIS"), Picture Archiving and Communication System ("PACS"), and other software solutions from various vendors as well as related services, including implementation, management and support; and NetWolves Network Services LLC, a managed network services provider with an extensive, proprietary service platform to a broad base of customers.
- Vaso Diagnostics, Inc. d.b.a. VasoHealthcare, provides professional sales services and is the operating subsidiary for the exclusive sales representation of a large healthcare diagnostic imaging equipment manufacturer in certain market segments in the United States.
- VasoMedical, Inc. manages and coordinates the design, manufacture and sales of proprietary medical equipment and software, as well as operates the Company's overseas assets including China-based subsidiaries.
Transaction Overview
The Transaction values Vaso at a pro forma equity value of approximately $176 million, at $10.00 per share. The Boards of Directors of Vaso and Achari have each approved the Transaction, the consummation of which is subject to various customary closing conditions, including the filing and effectiveness of a Registration Statement on Form S-4 (as amended or supplemented, the "Registration Statement") by Achari with the United States Securities and Exchange Commission ("SEC"), the filing and clearance by the SEC of a proxy statement by Vaso and the approval of the stockholders of both Achari and Vaso of the proposed business combination (although Vaso shareholders representing 44% of Vaso's outstanding shares have entered into support agreements committing them to vote in favor of the Transaction). The Transaction is expected to close in the first quarter of 2024.
Additional information, including a copy of the business combination agreement, will be provided in Current Reports on Form 8-K to be filed by each of Achari and Vaso with the SEC.
Advisors
Ladenburg Thalmann & Co. Inc. is serving as financial and capital markets advisor to Vaso. Katten Muchin Rosenman LLP is acting as legal advisor to Achari and Ortoli Rosenstadt LLP is acting as legal advisor to Vaso.
About Achari Ventures Holdings Corp. I
Achari Ventures Holdings Corp. I (NASDAQ:AVHI) is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
Additional Information and Where to Find It
Achari intends to file with the SEC the Registration Statement, which will include a preliminary proxy statement/prospectus of Achari, which will be both the proxy statement to be distributed to holders of shares of Achari's common stock in connection with the solicitation of proxies for the vote by Achari's stockholders with respect to the proposed business combination and related matters as may be described in the Registration Statement, as well as the prospectus relating to the offer and sale of the securities to be issued in the business combination. Vaso intends to file with the SEC (the "Company Proxy Statement") a preliminary proxy statement of Vaso, which will be the proxy statement to be distributed to holders of shares of Vaso's common stock in connection with the solicitation of proxies for the vote by Vaso's stockholders with respect to the proposed business combination and related matters as may be described in the proxy statement.
After the Registration Statement is declared effective, Achari will mail a definitive proxy statement/prospectus and other relevant documents to its stockholders. After clearance from the SEC with respect to the Company Proxy Statement, Vaso will mail a definitive proxy statement and other relevant documents to its stockholders. Achari's and Vaso's stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus to be filed by Achari, and any amendments thereto, the preliminary proxy statement to be filed by Vaso, and any amendments thereto, the definitive proxy statement/prospectus to be filed by Achari and the definitive proxy statement to be filed by Vaso, because such documentation will contain important information about Achari, Vaso and the proposed business combination. This press release is not a substitute for the Registration Statement, the Company Proxy Statement, the definitive proxy statement/prospectus to be filed by Achari, the definitive proxy statement to be filed by Vaso or any other document that Achari or Vaso will send to their respective stockholders in connection with the business combination.
INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS, COMPANY PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND THE PARTIES TO THE BUSINESS COMBINATION.
The definitive proxy statement/prospectus to be filed by Achari and the definitive proxy statement to be filed by Vaso will each be mailed to Achari and Vaso's respective stockholders as of record dates to be established for voting on the proposed business combination and related matters. Stockholders of Achari and Vaso may obtain copies of the proxy statement/prospectus to be filed by Achari and the proxy statement to be filed by Vaso, when available, without charge, at the SEC's website at www.sec.gov or by directing requests to each of: Vaso Corporation, 137 Commercial Street, Suite 200, Plainview, New York 11803 or Achari Ventures Holdings Corp. I, 60 Walnut Avenue, Suite 400, Clark, NJ 07066, as applicable.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE BUSINESS COMBINATION OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Participants in Solicitation
This press release is not a solicitation of a proxy from any investor or security holder. However, Achari and Vaso and their respective directors, officers and other members of their management and employees may be deemed to be participants in the solicitation of proxies from Achari's and Vaso's stockholders with respect to the proposed business combination and related matters. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of the directors and officers of Achari and Vaso in the proxy statement/prospectus to be filed by Achari relating to the proposed business combination when it is filed with the SEC and the proxy statement to be filed by Vaso relating to the proposed business combination when it is filed with the SEC. These documents may be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This press release is for informational purposes only, and is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy or subscribe for any securities or a solicitation of any vote of approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.
Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Such forward-looking statements are often identified by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "forecasted," "projected," "potential," "seem," "future," "outlook," and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the effect of changes taking place across the intersection of the information technology and healthcare industries, (ii) continuation of the Company's agreement with a major healthcare diagnostic imaging equipment manufacturer, (iii) the impact of competitive technology and products and their pricing on the Company's technology and products, (iv) medical insurance reimbursement policies, (v) unexpected manufacturing or supplier problems, (vi) unforeseen difficulties and delays in product development programs, (vii) the actions of regulatory authorities and third-party payors in the United States and overseas, and (viii) the risk factors reported from time to time in the Company's and Achari's SEC reports. The forgoing factors are not exhaustive and additional factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of negotiations and any subsequent definitive agreements with respect to the business combination; (2) the outcome of any legal proceedings that may be instituted against Achari or Vaso, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; (3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of Achari or Vaso or to satisfy other conditions to closing; (4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; (5) the ability to meet stock exchange listing standards following the consummation of the business combination; (6) the risk that the business combination disrupts current plans and operations of Vaso as a result of the announcement and consummation of the business combination; (7) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain key relationships and retain its management and key employees; (8) costs related to the business combination; (9) changes in applicable laws or regulations; (10) the possibility that Vaso or the combined company may be adversely affected by other economic, business, and/or competitive factors and (11) Vaso's estimates of expenses and profitability. The foregoing list of factors is not exhaustive.
The reader should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Achari's final prospectus dated October 14, 2021 (Registration No. 333-258476), related to its initial public offering, Achari's and Vaso's Annual Reports on Form 10-K filed with the SEC and other documents filed by Achari and Vaso from time to time with the SEC.
The reader is cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Achari and Vaso. Achari and Vaso expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Achari or Vaso with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Investor Contacts
For Vaso:
Michael J. Beecher
Investor Relations
Phone: 516-997-4600
Email: mbeecher@vasocorporation.com
For Achari:
Rob Kelly
MATTIO Communications
416-992-4539
AchariSpac@mattio.com
SOURCE: Vaso Corporation
View the original press release on accesswire.com
与Achari Ventures Holdings Corp. I的业务合并预计将于2024年第一季度完成
- 与Achari Ventures Holdings Corp. I(纳斯达克股票代码:AVHI)的合并预计将改善瓦索公司(OTCQX: VASO)现有和潜在投资者的资本市场准入。
- 该交易估值Vaso的预计股权价值约为1.76亿美元,每股10美元。
- 交易完成后,现有的Vaso股东将获得完全由幸存的上市合并公司的股份组成的对价。
纽约州普莱恩维尤/ACCESSWIRE/2023年12月7日/目前在OTCQX市场上交易的多元化医疗技术公司瓦索公司(“Vaso” 或 “公司”)今天宣布,计划通过与Achari Ventures Holdings Corporation第一公司(“Achari”,纳斯达克股票代码:AVHI)的业务合并(“交易”)从场外交易市场上市(“Achari”,纳斯达克股票代码:AVHI)。交易完成后,Vaso普通股和认股权证预计将在纳斯达克资本市场(“纳斯达克”)上市,股票代码分别为 “VASO” 和 “VASOW”。Vaso的普通股将继续在OTCQX市场上交易,股票代码为 “VASO”,直到拟议的业务合并完成后在纳斯达克开始交易。
Vaso由首席执行官马军领导,在拟议的业务合并之后,他将继续领导合并后的公司。阿查里由首席执行官维卡斯·德赛领导,他也是阿查里董事会主席。
公司概述
Vaso Corporation是一家多元化的医疗技术公司,拥有多个独特但相关的专长:托管IT系统和服务,包括医疗保健软件解决方案和网络连接服务;诊断成像产品的专业销售服务;以及专有医疗设备的设计、制造和销售。
该公司通过三家全资子公司运营:
- VasoTechnology, Inc. 通过两个业务部门提供网络和IT服务:VasoHealthcare IT Corp.,一家放射学信息系统(“RIS”)、图片存档和通信系统(“PACS”)以及来自不同供应商的其他软件解决方案以及相关服务(包括实施、管理和支持)的全国增值经销商;以及NetWolves Network Services LLC,一家托管网络服务提供商,为广泛的基础提供广泛的专有服务平台顾客。
- Vaso Diagnostics, Inc. d.b.a. vasoHealthcare,提供专业的销售服务,是一家大型医疗诊断成像设备制造商在美国某些细分市场的独家销售代理的运营子公司。
- VasoMedical, Inc. 管理和协调专有医疗设备和软件的设计、制造和销售,并运营公司的海外资产,包括中国子公司。
交易概述
该交易估值Vaso的预计股权价值约为1.76亿美元,每股10.00美元。Vaso和Achari的董事会分别批准了该交易,交易的完成取决于各种惯例成交条件,包括Achari向美国证券交易委员会(“SEC”)提交的S-4表格(经修订或补充的 “注册声明”)及其生效,美国证券交易委员会提交和批准瓦索的委托书以及两位股东的批准拟议业务合并的阿里和瓦索(尽管是瓦索的股东占Vaso已发行股票的44%已签订支持协议,承诺他们对该交易投赞成票)。该交易预计将于2024年第一季度完成。
其他信息,包括业务合并协议的副本,将在由Achari和Vaso各自向美国证券交易委员会提交的表格8-K的最新报告中提供。
顾问
Ladenburg Thalmann & Co.Inc. 担任Vaso的金融和资本市场顾问。凯腾·穆钦·罗森曼律师事务所担任阿查里的法律顾问,奥托利·罗森斯塔特律师事务所担任瓦索的法律顾问。
关于阿查里风险投资控股公司 I
Achari Ventures Holdings Corp. I(纳斯达克股票代码:AVHI)是一家空白支票公司,成立的目的是与一家或多家企业进行合并、股票交换、资产收购、股票购买、重组或类似的业务合并。
其他信息以及在哪里可以找到
阿查里打算向美国证券交易委员会提交注册声明,其中将包括Achari的初步委托书/招股说明书,该委托书既是向Achari普通股持有人分发的委托书,用于征集代理人让Achari股东就注册声明中可能描述的拟议业务合并和相关事项进行投票,也是与要约相关的招股说明书以及出售将在企业合并中发行的证券。Vaso打算向美国证券交易委员会提交一份Vaso的初步委托书(“公司委托声明”),该委托书将作为分发给Vaso普通股持有人的委托书,用于向Vaso的股东征集代理人就委托书中可能描述的拟议业务合并和相关事项进行投票。
注册声明宣布生效后,Achari将向其股东邮寄一份最终的委托书/招股说明书和其他相关文件。在美国证券交易委员会批准公司委托书后,Vaso将向其股东邮寄一份最终的委托书和其他相关文件。建议阿查里和瓦索的股东和其他利益相关人员阅读阿查里提交的初步委托书/招股说明书及其任何修正案、瓦索提交的初步委托书及其任何修正案、阿查里提交的最终委托书/招股说明书以及瓦索提交的最终委托书,因为此类文件将包含有关阿查里、瓦萨里的重要信息 o 和拟议的业务合并。本新闻稿不能替代注册声明、公司委托声明、Achari提交的最终委托书/招股说明书、Vaso提交的最终委托书或Achari或Vaso将向各自股东发送的与业务合并有关的任何其他文件。
建议投资者和证券持有人仔细完整地阅读注册声明、委托书/招股说明书、公司委托书和向美国证券交易委员会提交的任何其他相关文件(如果有),因为它们将包含有关企业合并和企业合并各方的重要信息。
Achari提交的最终委托书/招股说明书和Vaso提交的最终委托书将分别邮寄给Achari和Vaso各自的股东,截止日期将分别邮寄给Achari和Vaso的各自股东,以便就拟议的业务合并和相关事项进行投票。Achari和Vaso的股东可以在美国证券交易委员会的网站www.sec.gov上免费获得Achari提交的委托书/招股说明书的副本以及Vaso提交的委托书的副本,也可以直接向以下各公司索取申请:纽约普莱恩维尤11803号商业街137号200套房或Achari Ventures Corp. Holdings I,胡桃大道60号,400套房新泽西州克拉克 07066,视情况而定。
美国证券交易委员会或任何其他监管机构均未批准或不批准对本文所述任何证券的投资,也没有任何机构对业务合并的优点或此处所含信息的准确性或充分性进行移交或认可。任何与此相反的陈述均属刑事犯罪。
招标参与者
本新闻稿不是向任何投资者或证券持有人征集代理人。但是,Achari和Vaso及其各自的董事、高级管理人员和其他管理层成员和员工可能被视为参与向Achari和Vaso的股东征集有关拟议业务合并和相关事项的代理人。投资者和证券持有人可以在Achari向美国证券交易委员会提交的与拟议业务合并相关的委托书/招股说明书以及Vaso向美国证券交易委员会提交的与拟议业务合并相关的委托书/招股说明书中获得有关Achari和Vaso董事和高级管理人员姓名、关联关系和利益的更多详细信息。这些文件可以从上述来源免费获得。
不得提出要约或邀请
本新闻稿仅供参考,无意也不构成出售要约或征求出售要约,或征求购买或认购任何证券的要约或征求任何批准票,也不应在任何此类司法管辖区进行任何证券的出售、发行或转让,在根据证券法的证券法进行注册或资格认定之前,此类要约、招标或出售为非法的司法管辖区进行任何证券的出售、发行或转让。管辖权。除非通过符合经修订的1933年《证券法》第10条要求的招股说明书以及其他符合适用法律的方式,否则不得进行证券要约。
前瞻性陈述
本新闻稿中的某些陈述是《证券法》第27A条和《交易法》第21E条所指的 “前瞻性陈述”。此类前瞻性陈述通常由 “相信”、“可能”、“将”、“估计”、“继续”、“预测”、“打算”、“预期”、“应该”、“将”、“计划”、“预测”、“预测”、“潜在”、“看起来”、“未来”、“展望” 等词语以及预测或表明未来事件或趋势的类似表述来识别否则,请注明与历史无关的陈述,但没有这些词语并不意味着陈述不是前瞻性的。这些可能导致实际业绩与当前预期存在重大差异的前瞻性陈述和因素包括但不限于:(i)信息技术和医疗保健行业交汇处发生的变化的影响,(ii)公司与一家主要医疗诊断成像设备制造商的协议的延续,(iii)竞争性技术和产品及其定价对公司技术和产品的影响,(iv)医疗保险报销政策,(v)意外的制造或供应商问题,(vii)产品开发计划中不可预见的困难和延迟,(vii)监管机构和第三方付款人在美国和海外的行动,(viii)公司和Achari的SEC报告中不时报告的风险因素。上述因素并非详尽无遗,可能导致实际结果与当前预期存在重大差异的其他因素包括但不限于:(1) 任何可能导致终止与业务合并有关的谈判和任何后续最终协议的事件、变化或其他情况的发生;(2) 在宣布合并后可能对Achari或Vaso、合并后的公司或其他人提起的任何法律诉讼的结果业务合并和任何最终决定与之相关的协议;(3)由于未能获得Achari或Vaso股东的批准或未能满足其他关闭条件而无法完成业务合并;(4)根据适用的法律或法规或作为获得监管部门批准业务合并的条件而可能需要或适当的变更拟议的业务合并结构;(5)在完成后满足证券交易所上市标准的能力业务合并;(6)风险由于业务合并的宣布和完成,业务合并扰乱了Vaso当前的计划和运营;(7)识别业务合并的预期收益的能力(可能受到竞争等因素的影响)、合并后的公司盈利增长和管理增长、维持关键关系以及留住其管理层和关键员工的能力;(8)与业务合并相关的成本;(9)适用法律的变化或法规;(10) Vaso 或合并后的公司可能会受到其他经济、商业和/或竞争因素以及(11)Vaso对费用和盈利能力的估计的不利影响。上述因素清单并不详尽。
读者应仔细考虑上述因素以及Achari于2021年10月14日发布的最终招股说明书(注册号333-258476)中 “风险因素” 部分描述的其他风险和不确定性,这些风险和不确定性与其首次公开募股、阿查里和瓦索向美国证券交易委员会提交的10-K表年度报告以及Achari和Vaso不时向美国证券交易委员会提交的其他文件有关。
提醒读者不要过分依赖这些前瞻性陈述,这些陈述仅代表截至发布之日,不能保证未来的表现,并受许多不确定性、风险、假设和其他因素的影响,其中许多不确定性、风险、假设和其他因素是阿查里和瓦索无法控制的。Achari和Vaso明确表示不承担任何义务或承诺,即公开发布此处包含的任何前瞻性陈述的任何更新或修订,以反映Achari或Vaso对前瞻性陈述的预期的任何变化或任何陈述所依据的事件、条件或情况的任何变化。
投资者联系方式
对于 Vaso 来说:
迈克尔·J·比彻
投资者关系
电话:516-997-4600
电子邮件:mbeecher@vasocorporation.com
对于 Achari 来说:
罗伯·凯利
MATTIO 通讯
416-992-4539
AchariSpac@mattio.com
来源:Vaso Corporation
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