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SynCardia Systems, a leader in mechanical heart replacement technology, is set to merge with Altitude Acquisition Corp. (NASDAQ: ALTU), estimated at a pre-money enterprise value of $480 million. This transaction aims to enhance SynCardia’s international expansion and support FDA approval for long-term indications of its Total Artificial Heart (TAH), the first and only FDA-approved solution for end-stage heart failure. With over 2,000 implants performed globally, SynCardia addresses a critical market need, given that approximately 300,000 patients in the U.S. alone require heart transplants annually. The merger is anticipated to close in the third or fourth quarter of 2023.
Altitude Acquisition Corp. (NASDAQ: ALTU) announced a non-binding letter-of-intent for a business combination with a leading medical device manufacturer. The proposed merger values the Target at $480 million, with existing equity holders rolling 100% of their equity into the new entity. The combined company is expected to have at least $30 million in net cash at closing. The completion is subject to due diligence, board approvals, and stockholder consent. Further details will be released upon executing a definitive merger agreement in Q1 2023.
Altitude Acquisition Corp. (NASDAQ: ALTU) is negotiating to merge with a prominent global medical device manufacturer, valuing the transaction at approximately $480 million. The deal aims for a combined company with at least $20 million in net cash at closing. This merger could enhance Altitude's market position, as the target is already approved for use in over 30 countries. Shareholder approval is sought for an extension of time to complete the merger, pushed to April 11, 2023. Key risks include the need for due diligence and stockholder approval.
Altitude Acquisition Corp. (Nasdaq: ALTUU) announced $12.5 million in non-redemption agreements from shareholders to extend the timeframe for completing its initial business combination to October 11, 2022. This agreement involves shareholders holding 1,250,000 shares, who will receive $0.033 per share monthly during the four-month extension. Currently, ALTUU is negotiating a potential merger with a leading travel technology business. A special shareholder meeting to approve the extension will be held on June 10, 2022.
Altitude Acquisition Corp. (ALTUU) announced it will adjourn its special stockholder meeting regarding the extension of time to finalize an initial business combination. The meeting is rescheduled for June 10, 2022, at 10:30 a.m. ET. Stockholders can redeem shares until June 9, 2022, at 5:00 p.m. ET. Stockholders as of May 2, 2022, are eligible to vote. The decision allows ALTUU to gather more proxies for the extension. This follows the filing of a definitive proxy statement concerning the extension. Altitude aims to merge or acquire businesses focused on travel and related technologies.
Altitude Acquisition Corp (Nasdaq: ALTUU) announced that as of January 29, 2021, holders of its initial public offering units can separately trade shares of common stock and warrants. Common stock will trade under symbol ALTU and warrants under ALTUW. The units that are not separated will continue trading under ALTUU. Altitude is a blank-check company seeking to merge or acquire businesses, focusing on travel and travel-related sectors with an enterprise value of $1 billion or more. Cantor Fitzgerald & Co. was the sole book-runner for this offering.
Altitude Acquisition Corp. (Nasdaq: ALTUU) has successfully closed its initial public offering (IPO), raising $300 million by offering 30 million units priced at $10.00 each. The offering included 3.9 million units from an over-allotment option exercised by underwriters. Each unit consists of one Class A common stock share and one-half of a redeemable warrant, which can be exercised at $11.50. The company aims to focus on travel and travel-related businesses with an enterprise value exceeding $1 billion. Funds raised are placed in trust pending business combination efforts.
Altitude Acquisition Corp. has priced its initial public offering at $10.00 per unit, offering a total of 26,100,000 units on Nasdaq under the ticker symbol ALTUU. Each unit includes one share of Class A common stock and a half warrant, with whole warrants exercisable at $11.50 per share. The company targets travel-related businesses valued at over $1 billion. Cantor Fitzgerald is the sole book-runner, while Odeon Capital Group serves as the lead manager. The SEC has approved the registration statement for this offering, which will not constitute a sales offer until fully registered.