- SPAC Aurora Technology Acquisition ( NASDAQ: ATAK ) said Monday it inked a non-binding letter of intent with DIH Technology, a robotic and virtual reality-enabled rehabilitation technology provider, for a potential merger.
- Under the LOI, the companies would become a combined entity, with DIH's shareholders rolling 100% of their equity into the combined firm.
- Aurora ( ATAK ) and DIH expect to announce additional details when a definitive agreement is executed, which is expected before January 31.
- "DIH fits our acquisition target profile well as a multi-national smart technology provider in the human rehabilitation and performance industry. Founded by Asian-American entrepreneurs, with over 20 years of experience managing global healthcare operations, the company has a strong tenured management," said Aurora ( ATAK ) CEO Zachary Wang.
- The SPAC earlier this year filed to raise up to $230M to seek out a merger with a high-growth tech firm founded by Asian or Asian-American entrepreneurs .
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SPAC Aurora Technology Acquisition, DIH ink LOI for business combination