LAMF Global Ventures Corp. I (NASDAQ: LGVC, LGVCU, LGVCW) shareholders have approved the business combination with Nuvo Group Ltd., as announced in a press release on April 2, 2024. The approval came following an extraordinary general meeting where voters representing over 93.4% of the issued and outstanding class A ordinary shares of LAMF cast votes in favor of the proposal.
Additionally, shareholders holding an aggregate of 2,913,194 LAMF class A ordinary shares exercised their right to redeem their shares for approximately $11.03 per share, leaving approximately $434,982 in cash in the trust account after satisfaction of such redemptions. Post-redemptions, 39,422 LAMF class A ordinary shares (representing approximately 1.3% of the total LAMF class A ordinary shares held by public shareholders prior to redemptions) will remain outstanding.
Upon the closing of the transaction, the combined company is expected to operate as Holdco and will be listed on NASDAQ under the ticker symbol "NUVO," with warrants under the ticker symbol "NUVOW."
Nuvo Group Ltd. is known for its commitment to reinventing pregnancy care for the 21st century through new technology, tools, and practices for providers and expectant mothers. Its FDA-cleared invu by Nuvo™ platform offers remote pregnancy monitoring and management, including non-stress tests and maternal and fetal heart rate monitoring.
The technology and patent estate behind the invu platform have received industry recognition, including Fast Company’s "Next Big Things in Tech" (2021), CB Insights' "Digital Health 150" (2020, 2022), and MedTech Innovator’s "Top 50 MedTech Startups" (2021). Nuvo is led by a diverse team of experienced business and medical professionals, data engineers, and software designers, with a mission to give every life a better beginning. As a result of these announcements, the company's shares have moved 8.8% on the market, and are now trading at a price of $11.72. If you want to know more, read the company's complete 8-K report here.
