CLRD is a bad company with losses and based on their balance sheet and some recent announcements it looks as if they are giving up on some of their properties and senior living residences. If I am reading everything correctly CLRD revenues will be going down.
If they are banking on AI or robotics, it must be noted that Clearday doesn't own any AI or robotics. They are merely a reseller, but I don't know if they ever resold anything as of yet.
Unless I am wrong VHAQ is a short if I ever seen one.
Am I missing something here? can someone give me a perspective that I may be overlooking? Can someone explain to me the fundamentals of a deal that combines VHAQ and CLRD? I do ask for fundamentals not opinions, dreams and hopes.
$CLRD news out valued at $250 million. Merger with $VHAQ
Norcross, Georgia, and San Antonio, Texas, March 01, 2023 (GLOBE NEWSWIRE) -- Viveon Health Acquisition Corp. (NYSE American: VHAQ, VHAQW, VHAQR, VHAQU), a special purpose acquisition company led by principals experienced in healthcare and med-tech innovation, is pleased to announce that it has identified and entered into a letter of intent with a business combination target company, Clearday (OTCQX: CLRD).
Viveon Health Acquisition is a blank check company formed under the laws of the State of Delaware on August 7, 2020.
We were formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination.
Our efforts to identify a prospective target business will not be limited to any particular industry or geographic region, although we intend to focus our search on target healthcare businesses operating in North America.
Jagi Gill, PhD, our Chief Executive Officer, has more than 20 years of healthcare investment and general management experience. From 2017 to 2020, he served as the Vice-President of Business Development and General Manager of AcuVentures, a business unit within Acumed LLC, which is a market leader in the orthopedic sector with particular strength in the upper extremity fracture repair and trauma market segments.
As the General Manager, Dr. Gill led two business units, Rib Fixation and the Soft Tissue Repair, with responsibilities for product development, sales, marketing and profitability.
Under his leadership, the business units grew 2-3x faster than their market segment. In addition to general management responsibilities, Dr. Gill was involved in sourcing, closing and integrating four acquisitions within the orthopedic sector for Acumed.
These transactions ranged from technology acquisitions serving as tuck-in product integrations to stand alone companies with global revenue.