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New Deal


Announced

Completed

Cardio Diagnostics went public via a SPAC merger with Mana Capital Acquisition in a $175m deal.

Financials

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Transaction Value£138m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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biotechnology research

United States

Majority

Acquisition

Private

Domestic

Biotechnology

Reverse Takeover

De-SPAC

Friendly

Single Bidder

Completed

Synopsis

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Cardio Diagnostics, a cardiovascular medicine company, went public via a SPAC merger with Mana Capital Acquisition, a special purposes acquisition vehicle, in a $175m deal. “We are very pleased to have combined with Cardio and created a publicly listed company set to transform cardiovascular disease through epigenetics. Cardio is the first company to develop and commercialize epigenetics-based clinical tests for cardiovascular disease that have clear value for patients, clinicians, hospitals/health systems, and payors,” Jonathan Intrater, Mana Capital Chairman. On August 23, 2022, Mana Capital Acquisition extends period to consummate $175m merger.

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