Brief: Picard Medica To Become Publicly Traded Co Via Merger With Altitude Acquisition Corp

Altitude Acquisition

24/04/2023 13:38

April 24 (Reuters) - Altitude Acquisition Corp  ALTU.O :
    * PICARD MEDICAL AND ITS SUBSIDIARY, SYNCARDIA SYSTEMS, A
PIONEER
IN TOTAL ARTIFICIAL HEART TECHNOLOGY, TO BECOME A PUBLICLY
TRADED COMPANY VIA MERGER WITH ALTITUDE ACQUISITION CORP
    * PICARD MEDICAL: ENTERED INTO A DEFINITIVE BUSINESS
COMBINATION
AGREEMENT WITH ALTITUDE ACQUISITION CORP
    * ALTITUDE ACQUISITION CORP - AGREEMENT WILL RESULT IN
PICARD
MEDICAL BECOMING A PUBLICLY LISTED COMPANY
    * PICARD MEDICAL: UPON CLOSING OF TRANSACTION, ALTITUDE WILL
BE
RENAMED PICARD MEDICAL HOLDINGS INC AND IS EXPECTED TO REMAIN
LISTED ON NASDAQ
    * PICARD MEDICAL - PROPOSED TRANSACTION VALUES PICARD
MEDICAL AT
ENTERPRISE VALUE OF $480 MILLION
    * PICARD MEDICAL- PICARD MEDICAL STOCKHOLDERS WILL ROLL 100%
OF
THEIR EXISTING EQUITY HOLDINGS INTO COMBINED COMPANY
    * PICARD MEDICAL- SYNCARDIA IS EXPECTED TO ACHIEVE
BREAK-EVEN
PROFITABILITY BY 2024

Source text for Eikon:  ID:nGNX2fN3SY 
Further company coverage:  ALTU.O 

 ((Reutersbriefs@thomsonreuters.com;))