ReElement Technologies stock soars after securing $1.4B government deal
Aimei Health Technology Co., Ltd. (NASDAQ:AFJK), currently trading at $11.49 with a market capitalization of $69.36 million, has extended the deadline to complete its initial business combination by one month, according to a statement filed with the Securities and Exchange Commission. InvestingPro analysis indicates the company maintains a FAIR financial health score, though investors should note its current trading price sits near its 52-week high. The company deposited $150,000 into its trust account for public shareholders, enabling the extension of the termination date from October 6, 2025, to November 6, 2025. This marks the tenth of up to twelve permitted extensions under the company’s current articles of association. According to InvestingPro data, the company’s current ratio of 0.02 suggests potential liquidity challenges, with short-term obligations exceeding liquid assets.
In connection with the extension, Aimei Health Technology issued an unsecured promissory note totaling $150,000 on Wednesday. The note was issued to Aimei Health Ltd. and United Hydrogen Group Inc., both exempted companies incorporated in the Cayman Islands. Each party contributed $75,000 to fund the extension payment.
The promissory note carries no interest and the principal amount becomes due upon the completion of a business combination between Aimei Health Technology and United Hydrogen Group Inc. The holders of the note have the option, but not the obligation, to convert the outstanding principal into private units of the company at a rate of $10.00 per unit. Each unit consists of one ordinary share and one right to receive one-fifth of an ordinary share. To exercise this option, holders must provide written notice at least two business days before the closing of the business combination.
Aimei Health Technology is incorporated in the Cayman Islands and its ordinary shares, rights, and units are listed on the Nasdaq Stock Market under the symbols AFJK, AFJKR, and AFJKU, respectively.
The information in this article is based on a press release statement included in the company’s recent SEC filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.