Viveon Health Acquisition Corp. Announces That Redemption Reversals In Connection With Vote To Consummate Its Initial Business Combination With Suneva Medical, Inc. Are Extended Until December 23, 2022.
Viveon Health Acquisition Corp. (NYSE:VHAQ, VHAQW, VHAQR, VHAQU))))), a special purpose acquisition company (the "Company"), today announced that it will allow those holders of shares of the Company's common stock sold as part of the units issued in its initial public offering who elected to redeem their common stock ("Redeeming Stockholders") in connection with the special meeting of stockholders held today at 10:30 AM EST (the "Special Meeting"), to reverse their redemption requests by sending a DTC DWAC (Deposit/Withdrawal At Custodian) request to the Company's transfer agent, Continental Stock Transfer & Trust Company, by 5:00 PM EST on Friday, December 23, 2022.
In connection with the Special Meeting, the Company received requests to redeem 4,628,145 shares from the Redeeming Stockholders. The per-share pro rata portion of the trust account on December 19, 2022 was approximately $10.58. There are 404,729 non-redeemed shares remaining at the time of this press release.
The Company previously announced on January 12, 2022 that it had entered into a definitive merger agreement ("Merger Agreement") for a business combination whereby Suneva Medical, Inc. ("Suneva") will merge with VHAC Merger Sub, Inc., a wholly owned subsidiary of the Company, with Suneva surviving the merger as a wholly owned subsidiary of the Company. Upon closing of the business combination, the combined company is expected to remain listed under the name "Suneva Holdings, Inc." Today, the Company adjourned the Special Meeting until 10:30 AM EST on January 20, 2023. The Special Meeting will be held to, among other things, approve the proposal by the Company to consummate its initial business combination with Suneva.