Piermont Valley Acquisition Corp (symbol: CMCAF) is the issuer of record for a Form 425 filing submitted to the SEC.
Piermont Valley Acquisition Corp (symbol: CMCAF) is the issuer of record for a Form 8-K filing submitted to the SEC.
Piermont Valley Acquisition Corp., a Cayman Islands SPAC, reported a small net loss of $5,402 for the quarter ended June 30, 2026, with minimal cash outside the trust of $2,875 and cash and cash equivalents in its trust account of $2,478,814 tied to 204,450 redeemable Class A shares.
The company remains a shell and has not generated operating revenue; income comes from trust investment and dividend income. Extensive prior redemptions have reduced the original $234.6 million trust to its current level. Working capital shows a deficit of $352,705, including a related-party note payable of $276,521.
Piermont Valley entered into a Merger Agreement with Tigerless Health, Inc. in April 2026, under which a new Nevada holding company, Pubco, is expected to become the public parent, with Tigerless shareholders expected to hold a majority and Tigerless’s founder eligible for up to 10,000,000 earn-out shares. Closing is subject to shareholder approvals, SEC effectiveness of a Form S-4, listing of Pubco shares and securing at least $5,000,000 of PIPE financing, for which no commitments yet exist.
The company’s securities were delisted from Nasdaq in June 2024 for not completing a business combination within 36 months. Management discloses substantial doubt about the company’s ability to continue as a going concern if a business combination is not completed by March 3, 2027 and additional financing is not obtained.
Piermont Valley Acquisition Corp, a Cayman Islands SPAC, filed its annual report describing its status, risks and plans to complete a merger before March 3, 2027. The company has repeatedly extended its deadline and, after several large redemption rounds, now has 5,954,449 Class A shares and 1 Class B share outstanding.
The report highlights a pending business combination with Tigerless Health via a multi-step merger into a new Nevada holding company, where former Tigerless stockholders are expected to own a majority. As of March 31, 2026, the trust account is anticipated to be about $12.02 per public share, and if no deal is completed by the deadline the SPAC will liquidate and redeem public shares.
Terms include up to $100 million of stock-based earn-out for Tigerless holders tied to multi-year performance milestones and a targeted PIPE raise of at least $5 million, which is not yet committed. The filing also notes prior termination of a Lexasure transaction and the company’s 2024 delisting from Nasdaq after missing the 36‑month business combination window.
Piermont Valley Acquisition Corp entered into a definitive merger agreement to combine with Tigerless Health, creating a new public operating company ("Pubco"). The transactions use a two-step reorganization: Tigerless will merge into a Tigerless subsidiary, then a Tigerless subsidiary will merge into Piermont, leaving Tigerless and Piermont as subsidiaries of Pubco.
The agreement contemplates issuance of Pubco Class A and Class B shares to former Tigerless and Piermont securityholders, an earn-out program with a $100.0 million maximum payout across four annual tests (capped at $25.0 million per year), and a targeted PIPE financing of at least $5,000,000. Closing is expected in the second half of 2026 and is subject to shareholder approvals, SEC effectiveness of a Form S-4 registration statement, Nasdaq approval, customary conditions and possible termination dates of September 30, 2026 (extendable to December 31, 2026) under specified circumstances.
Tigerless Health, Inc., a New York-based Insurtech platform, has agreed to a definitive business combination with Piermont Valley Acquisition Corp., a publicly traded SPAC, valuing Tigerless Health at an enterprise value of approximately $280 million.
After closing, the combined company is expected to be renamed Tigerless AI Holdings, Inc. and listed on NASDAQ, with all existing Tigerless Health shareholders rolling 100% of their equity. The deal is intended to support continued investment in the company’s proprietary AI capabilities that help consumers understand and navigate insurance.
The boards of both companies have unanimously approved the transaction, which is expected to close in the second half of 2026, subject to shareholder and regulatory approvals and other customary closing conditions. Founder and CEO Zikang Wu and his management team are expected to continue leading the combined company.