99 ACQUPAR Nava Health MD, LLC entered into a definitive merger agreement to acquire 99 Acquisition Group Inc. (NasdaqGM:NNAG) in a reverse merger transaction for $320 million on February 12, 2024. In exchange for their equity securities, the shareholders of Nava Health will receive an aggregate number of shares of common stock of 99 Acquisition having a total value equal to $320 million at the closing of the proposed transaction. Upon closing the proposed transaction, 99 Acquisition will be renamed Nava Health MD, Inc. and expects to remain listed on the Nasdaq Stock Market.
The proposed transaction is subject to approval by the stockholders of 99 Acquisition and the shareholders of Nava Health, as well as the satisfaction or waiver of other customary closing conditions, including a registration statement on Form S-4 containing a proxy statement/prospectus being filed with and declared effective by the U.S. Securities and Exchange Commission. The transaction has been approved by the boards of directors of Nava Health and 99 Acquisition. The transaction is expected to be completed in the second quarter of 2024.
Gordon Feinblatt LLC is serving as legal counsel for Nava Health and Loeb & Loeb LLP is serving as legal counsel for 99 Acquisition.
