Robotics, VR provider DIH to merge with SPAC Aurora Technology
Dzmitry Dzemidovich
Aurora Technology Acquisition Corp. (NASDAQ:ATAK) plans to merge with robotics and virtual reality technology provider DIH in a deal that estimates the enterprise value of the combined company at $322M.
The deal, which should close in Q3, is expected to generate gross proceeds of around $58M, assuming no redemptions.
DIH equity holders could also receive up to $60M in common stock if the company hits certain share-price targets over the next five years. Shares of the combined company are expected to trade on Nasdaq.
Based in Norwell, Mass., DIH is focused on providing robotics and VR technology for the healthcare industry, primarily for human rehabilitation and performance.
DIH and Aurora announced they had signed a letter of intent to merge in December.