SANUWAVE Health today announced the company is holding a stockholders meeting Feb. 21 at 10 a.m. CT to vote on the proposed merger with SEP Acquisition (SEPA).
SANUWAVE announced back in August that the company entered into an agreement for a merger with Sweat Equity Partners and Mercury life sciences-affiliated SEPA.
The deal has an enterprise value of $127.5 million.
SANUWAVE investors are anticipated to have an approximately 69.6% equity ownership in the new entity, assuming the combined company receives approximately $13 million at closing, including $12 million from non-redeeming holders of the SPAC's stock and other PIPE investors, and $1 million from the SPAC sponsor converting a loan into equity on the same terms as the PIPE.
If approved, upon closing, the combined company is expected to trade on the Nasdaq under the symbol SNWV.
SANUWAVE Health is focused on the research, development, and commercialization of its patented, non-invasive and biological response-activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures. Read more.