Spectral MD hits record high on Nasdaq listing plans

Spectral AI

11/04/2023 10:42

** Shares of medical diagnostic solutions firm  SMD.L  up as
much 139.3% at 67p- hits record high
    ** Stock set to record its best day ever if gains hold
    ** Co says it will list on Nasdaq through business
combination with blank check co Rosecliff Acquisition Corp I
    ** Deal values SMD at an enterprise value of $170 million,
or 101p per share; a premium of 260.7% as at last close of 28p
per share on April 6
    ** Says proposed deal to be completed in Q3 2023
    ** Says proposed deal will give combined co with improve
access to new sources of capital, accelerate readiness for
material potential U.S. federal procurement contracts, among
other things
    ** As per last close stock up 54% YTD


 (Reporting by Sinchita Mitra in Bengaluru)
 ((Sinchita.mitra@thomsonreuters.com))