AIMEI HEALTH TECHNOLOGY CO., LTD. ANNOUNCES TERMINATION OF BUSINESS COMBINATION AGREEMENT WITH UNITED HYDROGEN GROUP INC.

Aimei Health Technology (NASDAQ: AFJK) announced it has terminated its Business Combination Agreement with United Hydrogen Group.

Rhea-AI Summary

Aimei Health Technology (NASDAQ: AFJK) announced it has terminated its Business Combination Agreement with United Hydrogen Group. The agreement, originally signed June 19, 2024 and amended June 6, 2025, was ended effective July 7, 2026 after passing the contractual outside date without closing.

According to the company, leadership remains focused on identifying and executing another potential transaction and expressed appreciation for United Hydrogen’s efforts during the process.

Positive

• Termination frees AFJK to pursue alternative business combination opportunities
• Management reiterates intention to identify and execute a future transaction

Negative

• Planned business combination with United Hydrogen will not be completed
• Uncertainty remains around timing and terms of any future transaction

Argus Jul 9 session 8 alerts

-51.70% close to close 24.9x rel. volume Open Argus

Details

Market move: AFJK -51.70% in the Jul 9 session. United Hydrogen merger termination

+3.7% Peak Tracked

-5.7% Trough Tracked

$84.51M Market Cap

On Jul 9, the first trading day after this news, AFJK closed 51.70% below the previous close. Argus tracked a peak move of +3.7% during that session. Argus tracked a trough of -5.7% from its starting point during tracking. Our momentum scanner recorded 8 alerts for this stock that day. Relative volume reached 24.9x the daily average during tracking.

Data tracked by StockTitan Argus for the Jul 9 session.

Market Context

On Jul 9, the first trading day after this news, the stock closed 51.7% below the previous close. A ...

Analysis

On Jul 9, the first trading day after this news, the stock closed 51.7% below the previous close. A sharp decline would be consistent with investors treating the loss of the United Hydrogen business combination as a major setback after multiple extensions, against a backdrop of earlier compliance delays and limited short positioning to cushion downside via covering.

Key Figures

Agreement date: June 19, 2024 Amendment date: June 6, 2025 Termination notice date: July 7, 2026

Agreement date

June 19, 2024

Business Combination Agreement with United Hydrogen

Amendment date

June 6, 2025

Amendment to Business Combination Agreement

Termination notice date

July 7, 2026

Notice of termination delivered to United Hydrogen

Historical Context

2 past events · Latest: May 20

2 events

1. May 20

   Nasdaq notice 10-Q delay

   24h Move

   -4.0%

   Nasdaq notification for missing Form 10-Q filing deadline for March 31, 2026.

2. Apr 21

   Nasdaq notice 10-K delay

   24h Move

   +1.4%

   Nasdaq notice for late Form 10-K filing and grant of cure period to regain compliance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

business combination agreement, outside date

2 terms

business combination agreement financial

"it has terminated the Business Combination Agreement, dated as of June 19, 2024"

A business combination agreement is a detailed contract that lays out the terms for two companies to join together—covering price, how ownership will be split, the steps needed to close the deal, and what each side promises to do or avoid before closing. For investors it matters because the agreement determines potential changes in value, control, timing, and risk exposure—think of it like the playbook for a merger that shows who wins, who pays, and what could still derail the plan.

outside date regulatory

"triggered by the occurrence of the applicable outside date, as the closing"

An outside date is the final contractual deadline by which a planned deal—such as a merger, acquisition, or financing—must be completed; if the transaction hasn’t closed by that date, parties typically gain the right to walk away or trigger agreed remedies. It matters to investors because it sets a clear timetable for when uncertainty should end, and approaching or missing the outside date can raise the chance of deal failure, renegotiation, or changes to valuation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Aimei Health Technology Co., Ltd. Announces Termination of Business Combination Agreement

NEW YORK, July 08, 2026 (GLOBE NEWSWIRE) -- Aimei Health Technology Co., Ltd (NASDAQ: AFJK, AFJKU, AFJKR, the “Company”) announced today that it has terminated the Business Combination Agreement, dated as of June 19, 2024, as amended on June 6, 2025, with United Hydrogen Group Inc. (“United Hydrogen”) and the other parties thereto.

The Company delivered a notice of termination to United Hydrogen on July 7, 2026, pursuant to Section 9.1(b) of the Business Combination Agreement, effective immediately. The termination was triggered by the occurrence of the applicable outside date, as the closing of the proposed business combination was not consummated on or prior to such date.

Xie Junheng, Chief Executive Officer and Director of the Company, stated, “Although we were unable to complete the proposed business combination with United Hydrogen within the required timeframe, we remain confident in our ability to identify and execute a compelling transaction in the future. We thank the United Hydrogen team for their efforts and professionalism throughout the process.”

Contact:
Xie Junheng
Aimei Health Technology Co., Ltd
10 East 53rd Street, Suite 3001
New York, NY 10022
Email: Xiejunheng@aimeihealth.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Why did Aimei Health (NASDAQ: AFJK) terminate its business combination with United Hydrogen?

Aimei Health ended the deal because the closing did not occur by the agreed outside date. According to the company, the termination was delivered under Section 9.1(b) of the agreement after the proposed business combination failed to consummate within the required timeframe.

When did Aimei Health (AFJK) terminate its Business Combination Agreement with United Hydrogen?

Aimei Health delivered its termination notice on July 7, 2026, with immediate effect. According to the company, the decision followed expiration of the contractual outside date after the business combination, signed June 19, 2024 and amended June 6, 2025, did not close.

What does the termination of the United Hydrogen deal mean for Aimei Health (AFJK) shareholders?

The United Hydrogen merger will not proceed, so shareholders will not own that combined entity. According to the company, management remains confident in finding and executing another compelling transaction, but future deal terms and timing have not been disclosed.

What future plans did Aimei Health (AFJK) outline after ending the United Hydrogen combination?

Aimei Health plans to continue seeking a compelling transaction after terminating the United Hydrogen agreement. According to the company, leadership expressed confidence in its ability to identify and execute a future deal and thanked United Hydrogen for its efforts.

Which agreement between Aimei Health (AFJK) and United Hydrogen was terminated in July 2026?

Aimei Health terminated the Business Combination Agreement with United Hydrogen Group, originally dated June 19, 2024. According to the company, the agreement had been amended on June 6, 2025 and ended effective immediately on July 7, 2026 after missing the outside closing date.