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Aimei Health Technology Co., Ltd (NASDAQ:AFJK), currently trading at $11.15 and near its 52-week high of $11.20, has extended its deadline to complete a business combination by one month, from June 6, 2025, to July 6, 2025. According to InvestingPro analysis, the company maintains a Good financial health score despite trading at a relatively high P/E ratio of 48. This extension is the seventh of up to 12 allowed under its current Articles of Association. The extension was facilitated by a $150,000 deposit into the company’s trust account, as detailed in a recent SEC filing. With a market capitalization of $68.26 million, InvestingPro analysis reveals 7 additional key insights about AFJK’s financial position and market performance.
The company issued an unsecured promissory note for the same amount to Aimei Health Ltd and United Hydrogen Group Inc., both Cayman Islands-based companies. Each entity contributed $75,000 to fund this extension. The promissory note, which does not bear interest, will become payable upon the completion of a business combination with United Hydrogen.
The note includes an option for the payees to convert it into private units of Aimei Health Technology at a rate of $10.00 per unit. Each unit consists of one ordinary share and a right to receive one-fifth of an ordinary share. Conversion must be requested at least two business days before the business combination’s closing.
This information is based on a recent SEC Form 8-K filing.
In other recent news, Aimei Health Technology Co., Ltd. has announced an extension for completing its initial business combination. The company has now set the new deadline for April 6, 2025, marking a one-month extension from the previous deadline. To facilitate this extension, Aimei Health deposited $150,000 into a trust account for its public shareholders. This extension represents the fourth out of a possible twelve under the company’s current Articles of Association. Aimei Health also issued an unsecured promissory note for the same amount to its sponsor, Aimei Health Ltd, and United Hydrogen Group Inc. Both contributors have the option to convert the promissory note into private units of the company at $10.00 per unit before the business combination is finalized. This strategic move underscores Aimei Health’s commitment to securing the right business combination, a critical step in its growth strategy. The details of the promissory note are provided in an SEC filing, emphasizing the company’s adherence to transparency and regulatory compliance. Investors are closely monitoring Aimei Health’s progress as the company navigates through this extension period.
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