SPAC Mana Capital Acquisition dips on deal with Cardio Diagnostics

Cardio Diagnostics Holdings

31/05/2022 15:09

** SPAC Mana Capital Acquisition Corp's  MAAQ.O  shares down
0.2% at $9.92
    ** MAAQ to merge with Cardio Diagnostics Inc, in deal that
values the cardiovascular medicine company at $175 mln
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    ** After deal closes, merged entity will be listed on Nasdaq
under the ticker symbol "CDIO", companies say
    ** Founded in 2017, Cardio Diagnostics says its technology
helps early detection and personalized treatment of
cardiovascular diseases
    ** Before deal closes, merged entity is expected to get a
$10 mln investment, companies say
    ** MAAQ raised $62 mln in its initial public offering in
November
    ** Meanwhile, U.S. Democratic Senator Elizabeth Warren is
planning a bill to crack down on SPAC market, Reuters reported
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 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))