CA Healthcare: Jumps on SPAC deal with diagnostic firm LumiraDx

LumiraDx

07/04/2021 11:26

** Shares of CA Healthcare Acquisition Corp  CAHC.O  jump
33.5% to $12.95 premarket; biggest pct gainer across all U.S.
exchanges
    ** Diagnostics testing co LumiraDx to merge with blank-check
firm CAHC and list on Nasdaq under ticker symbol "LMDX"
    ** LumiraDx estimates 2021 revenue of $600 mln-$1 bln
 urn:newsml:reuters.com:*:nBwRdBwya
    ** The combination reflects a value of $5 bln for LumiraDx's
existing equity
    ** LumiraDx has tests that can give results in less than 12
minutes at point of care
    ** Combined co to be led by current LumiraDx CEO Ron
Zwanziger, with deal expected to close in late Q2 to early Q3
    ** CAHC stock down marginally since IPO in March, in which
it raised $115 mln 

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))