SINGAPORE, November 23, 2022 (GLOBE NEWSWIRE) — 8i Acquisition 2 Corp. (“Company” or “LAX”) (NASDAQ: LAX), a publicly traded special purpose acquisition company, today announced the completion of its business combination (the “Business Combination”) EUDA Health Limited (“EUDA Health”), a Singapore-based digital health platform that aims to make healthcare more affordable, accessible and improve patient experience by delivering better outcomes through personalized healthcare.
The combined company will operate under the name “EUDA Health Holdings Limited” (NASDAQ: EUDA) and will be led by Dr. Calvin Chen, Founder and CEO. With the opening of trading on November 18, 2022, the common shares and warrants of the combined company will trade on the Nasdaq Stock Market under the symbols “EUDA” and “EUDAW”, respectively.
Upon completion of the business combination, all remaining LAX units will be separated into their underlying components, which consist of one ordinary share, one redeemable warrant and one right. Every two redeemable warrants entitles the holder to purchase one ordinary share and every ten warrants entitles the holder to receive one ordinary share.
The transaction was approved by the shareholders of LAX at a special meeting held on November 10, 2022.
“The completion of this business combination transaction is a significant step forward in our mission: to make healthcare more affordable and accessible, enhancing the patient experience and health through personalized healthcare,” said Dr. Calvin Chen, EUDA Health Founder and CEO. improving related outcomes. “Going public enables EUDA Health to further enhance its platform ecosystem and expand its comprehensive, end-to-end care across the Asia Pacific region and beyond. We are grateful for your support and are committed to delivering sustainable value to our shareholders, patients and business partners.
James Meng Dong Tan, CEO and Director of 8i Acquisition 2 Corp., commented: “On behalf of LAX’s leadership and our investors, we would like to congratulate the EUDA Health team on a successful business combination. EUDA Health’s differentiated AI platform Personal Health Having a defined approach to service and leading the way in advancing true patient empowerment. Our confidence in EUDA Health’s value proposition, significant market opportunity and growth potential continues to grow and we look forward to continuing our partnership.
Loeb & Loeb LLP acted as US legal counsel to LAX. Kauffman & Canoles, PC acted as US legal counsel to EUDA Health.
about EUDA Health Limited
EUDA Health Limited is a Singapore-based health technology company operating a first-of-its-kind Southeast Asian digital healthcare ecosystem that aims to make healthcare affordable and accessible and improve patient experience by delivering better outcomes through personalized healthcare Is. The company’s proprietary integrated AI platform instantly assesses a patient’s medical history, diagnoses conditions, digitally connects patients with physicians, and predicts optimal treatment outcomes. EUDA Health’s holistic approach supports patients at all stages of care, including wellness and prevention, urgent care and emergencies, pre-existing conditions, and care services.
About 8i Acquisition 2 Corp.
8i Acquisition 2 Corp is a British Virgin Islands company incorporated as a blank check company in January 2021 for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination of one or more businesses has been done. or institutions.
This document contains “forward-looking statements” within the meaning of the US federal securities laws in connection with the business combination transaction between LAX and EUDA Health. Forward-looking statements are generally accompanied by words such as “believes,” “may,” “will,” “anticipate,” “continue,” “estimate,” “intend,” “expect,” “should,” “will” are together. “”plan,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not imply that A statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and market opportunity estimates. These statements are based on various assumptions, whether in this press release whether identified or not and based on the current expectations of LAX and EUDA Health’s respective management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and do not constitute a guarantee, an assurance, by any investor , is not intended to serve as a prediction or a definitive statement of fact or likelihood, and should not be relied upon. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances AX and EUDA are beyond the control of Health. Some important factors that could cause actual results to differ materially from any forward-looking statements may include changes in domestic and foreign business, market, financial, political and legal conditions.
These forward-looking statements are subject to a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, those described in the section entitled “Risk Factors” in the prospectus filed by LAX in connection with its initial public offering on November 22, 2021. Important factors, among others, that could affect actual results or outcomes include: the parties’ inability to successfully or timely consummate the business combination, including the risk of not obtaining any required regulatory approvals, are delayed or are subject to unforeseen circumstances that may adversely affect the EUDA health or expected. the benefits of the business combination, if not received; failure to achieve the anticipated benefits of the business combination; carry out their respective due diligence of other parties as matters discovered by the parties; the ability of LAX prior to the business combination, and EUDA Health following the business combination, to maintain the listing of LAX shares on NASDAQ; costs related to the business combination; and the results of any legal proceedings that may be instituted against LAX or EUDA Health relating to the business combination. Important factors that could cause the combined company’s actual results or results to differ materially from those discussed in the forward-looking statements include: EUDA Health’s limited operating history and history of net losses; the ability to manage the development of EUDA Health; EUDA Health’s ability to execute its business plan; EUDA Health’s estimates of the size of the markets for its products; the rate and degree of market acceptance of EUDA Health’s products; EUDA Health’s ability to identify and integrate acquisitions; potential litigation involving the legality or enforceability of the Company or EUDA Health or EUDA Health’s intellectual property; and general economic and market conditions affecting demand for EUDA Health’s products and services.
If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by these forward-looking statements. There may be additional risks that neither LAX nor EUDA Health are currently aware of, or that LAX and EUDA Health currently believe are immaterial that could cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect LAX and EUDA Health’s current expectations, plans and forecasts of future events and views as of today’s date. Nothing in this press release should be construed as a representation by any person that the forward-looking statements set forth herein will be achieved or that any expected results of such forward-looking statements will be achieved. You should not place undue reliance on the forward-looking statements in this press release, which speak only as of the date on which they are made and are fully qualified in the context of the cautionary statements herein and the LAX and EUDA health risk factors described above. Huh. , LAX and EUDA Health anticipate that subsequent events and developments will cause them to change their assessments. However, while LAX and EUDA Health may elect to update these forward-looking statements at some point in the future, they specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing LAX or EUDA’s assessment of health at any date after the date of this press release. Accordingly, undue reliance should not be placed on forward-looking statements.
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