Aurora Technology Acquisition Completes Merger with DIH Holding US
Aurora Technology Acquisition announced today that it has successfully completed its merger with DIH Holding US, a robotics and virtual reality tech provider based in Beijing. The merger, which received approval from Aurora shareholders in December, seemed in jeopardy when the SPAC received a delisting notice from the Nasdaq for non-compliance. However, yesterday the SPAC and DIH received Nasdaq approval to list under the symbol DHAI, and trading is set to begin tomorrow.
Aurora shareholders waived a closing condition that required DIH to complete a corporate reorganization, allowing the deal to proceed. The merger, originally valued at approximately $321.9 million, saw 4,815,153 shares redeemed at $11.03 per share ahead of the merger vote, ultimately removing over $53 million from the trust.
The 8-K filing announcing the deal closing does not provide details of any additional financing that may have been secured since shareholder approval.
Analyst comment
Positive news: Aurora Technology Acquisition successfully completes merger with DIH Holding US, a robotics and virtual reality tech provider. Aurora shareholders waive a closing condition and trading is set to begin tomorrow. No details on additional financing.
As an analyst, the market is likely to respond positively to the completion of the merger and the fact that the deal can proceed despite the delisting notice. The approval from Nasdaq to list under a new symbol is a good sign. However, the lack of information about additional financing may have some impact on market sentiment.
