Aimei Health Technology extends business combination deadline with $150,000 funding

Aimei Health Technology Co., Ltd. (NASDAQ:AFJK), currently trading at $11.13 and appearing overvalued according to InvestingPro analysis, on Monday announced the extension of its deadline to complete an initial business combination by one month, from July 6, 2025 to August 6, 2025. According to a statement based on a recent SEC filing, the extension was made possible by a deposit of $150,000 into the company’s trust account for public shareholders.

The extension represents the eighth of up to 12 one-month extensions permitted under the company’s Amended and Restated Articles of Association.

In connection with the extension, Aimei Health Technology issued an unsecured promissory note on Sunday totaling $150,000 to its sponsor, Aimei Health Ltd, and to United Hydrogen Group Inc. Both entities are incorporated in the Cayman Islands. Each payee provided $75,000 to fund the extension payment.

The promissory note does not bear interest and the principal is due upon the closing of a business combination between Aimei Health Technology and United Hydrogen Group Inc. The payees have the right, but not the obligation, to convert the note into private units of Aimei Health Technology at a price of $10.00 per unit. Each unit would consist of one ordinary share and one right to receive one-fifth of an ordinary share, provided conversion notice is given at least two business days prior to closing.

Aimei Health Technology is a blank check company incorporated in the Cayman Islands with its ordinary shares, rights, and units traded on the Nasdaq Stock Market under the symbols AFJK, AFJKR, and AFJKU, respectively. The company, with a market capitalization of $68.26 million, trades at a relatively high P/E ratio of 48.28 and maintains a ’Fair’ financial health score according to InvestingPro metrics.

This information is based on a press release statement included in the company’s latest SEC filing.

In other recent news, Aimei Health Technology Co., Ltd. has announced an extension of its deadline to complete a business combination, now set for July 6, 2025. This marks the seventh extension out of a possible twelve under its current Articles of Association. The extension was made possible by a $150,000 deposit into the company’s trust account, facilitated through an unsecured promissory note issued to Aimei Health Ltd and United Hydrogen Group Inc. Each of these entities contributed $75,000 to fund the extension. The promissory note, which bears no interest, will become payable upon the completion of a business combination with United Hydrogen. Additionally, the note includes an option for the contributors to convert it into private units of Aimei Health Technology at a rate of $10.00 per unit. This strategic move is part of Aimei Health’s ongoing efforts to secure a suitable business combination, a key step in its growth strategy. The company has been transparent about these developments, as detailed in its recent SEC filings.

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