SPAC Mountain Crest to take digital healthcare group ETAO public in $2.5 bln deal

ETAO International Co

28/01/2022 14:22

** Blank-check co Mountain Crest Acquisition Corp III shares
 MCAE.O  edge up marginally to $9.89 premarket 
    ** ETAO International Group says it will go public through
merger with co in deal that values digital healthcare co at $2.5
bln  urn:newsml:reuters.com:*:nL4N2U83GJ
    ** Deal includes gross proceeds of up to $304 mln, including
$250 mln private investment from China SME Investment Group
    ** ETAO said funds will be used to improve healthcare
delivery amenities in its clinics and hospitals and also towards
its internet-based medical services
    ** After deal closes, ETAO will trade on  NYSE under ticker
symbol "ETAO" 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))