Nuvo and LAMF expect business combination will close on or about May 1, 2024
TEL AVIV, Israel and LOS ANGELES, April 29, 2024 /PRNewswire/ -- Nuvo Group Ltd., a limited liability company organized under the laws of the State of Israel and a pioneer in remote pregnancy monitoring ("Nuvo"), today announced the anticipated timeline for closing of its business combination with LAMF Global Ventures Corp. I (NASDAQ:LGVC, LGVCU, LGVCW))))) ("LAMF"), a Cayman Islands exempted special purpose acquisition company, Holdco Nuvo Group D.G Ltd., a limited liability company organized under the laws of the State of Israel ("Holdco"), Nuvo Assetco Corp., a Cayman Islands exempted company and a wholly owned subsidiary of Holdco ("Assetco"), and H.F.N Insight Merger Company Ltd., a limited liability company organized under the laws of the State of Israel and a wholly owned subsidiary of LAMF ("Merger Sub"). It is anticipated that the business combination will close on or about May 1, 2024, subject to the satisfaction or waiver of all other applicable closing conditions. Nuvo's ordinary shares and publicly traded warrants are expected to trade under the new ticker symbols "NUVO" and "NUVOW," respectively, starting on or about May 2, 2024, on The Nasdaq Stock Market.
"Pregnancy care is marred by poor health outcomes, limited access to care, and high costs of care delivery," said Rice Powell, CEO of Nuvo. "Becoming a public company helps accelerate our plans to grow Nuvo's market presence and the impact we are having when patients, clinicians, and the healthcare system need it most."
The business combination was approved at a special meeting of LAMF's shareholders, held on April 1, 2024. It will enable Nuvo to access capital markets to fuel commercial growth, international expansion, and expedite its innovation pipeline.