Brief: Deep Medicine Acquisition And Trugolf Announce Execution Of A Definitive Merger Agreement

Trugolf Holdings

01/04/2023 03:07

March 31 (Reuters) - Deep Medicine Acquisition Corp
 DMAQ.O :
    * . AND TRUGOLF, INC. ANNOUNCE THE EXECUTION OF A DEFINITIVE
MERGER AGREEMENT
    * BUSINESS COMBINATION WITH DEEP MEDICINE ACQUISITION CORP.
VALUES
TRUGOLF'S AT AN IMPLIED ENTERPRISE VALUE OF $125 MILLION
    * CHRISTOPHER JONES, CEO AND CHAIRMAN OF TRUGOLF, AND
EXISTING
MANAGEMENT TEAM WILL LEAD MERGED COMPANY
    * DEEP MEDICINE ACQUISITION - PROCEEDS FROM TRANSACTION WILL
ENHANCE TRUGOLF'S PRODUCTION CAPACITY, NEW PRODUCT RESEARCH AND
DEVELOPMENT
    * TRANSACTION CONSIDERATION WILL BE PAID IN NEWLY ISSUED
SHARES OF
COMMON STOCK OF DMAQ
    * UPON COMPLETION OF TRANSACTION, DMAQ WILL BE RENAMED
"TRUGOLF,
INC." AND WILL BE LISTED ON NASDAQ STOCK MARKET
    * DMAQ SHARES OF COMMON STOCK WILL TRADE UNDER TRADING
SYMBOL
"TRUG"
    * COMBINED COMPANY IS EXPECTED TO HAVE A TOTAL PRO FORMA
EQUITY
VALUE OF APPROXIMATELY $134.1 MILLION

Source text for Eikon:  ID:nGNX4yFJqB 
Further company coverage:  DMAQ.O 

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