Business
8i Acquisition 2 Corp. and EUDA Health Limited Complete Business Combination
Singapore, Nov. 17, 2022 (GLOBE NEWSWIRE) -- 8i Acquisition 2 Corp. (the “Company” or “LAX”) (NASDAQ: LAX), a publicly traded special purpose acquisition
About this update from Euda Health Holdings Limited
[{"type":"text","content":"Singapore, Nov. 17, 2022 (GLOBE NEWSWIRE) -- 8i Acquisition 2 Corp. (the “Company” or “LAX”) (NASDAQ: LAX), a publicly traded special purpose acquisition company, today announced the completion of its business combination (the “Business Combination”) with EUDA Health Limited (“EUDA Health”), a Singapore-based digital health platform that aims to make healthcare more affordable, accessible, and improve the patient experience by delivering improved outcomes through personalized healthcare. The combined company will operate under the name “EUDA Health Holdings Limited” and will be led by Founder and Chief Executive Officer Dr. Kelvin Chen. Commencing at the open of trading on November 18, 2022, the combined company’s ordinary shares and warrants will trade on Nasdaq Stock Market under the symbols “EUDA” and “EUDAW,” respectively. Upon completion of the Business Combination, all remaining LAX units will separate into their underlying components, which consist of one ordinary share, one redeemable warrant, and one right. Every two redeemable warrants entitle the holder to purchase one ordinary share and every ten rights entitle the holder to receive one ordinary share. The transaction was approved by LAX’s stockholders at the special meeting held on November 10, 2022. “The completion of this business combination transaction represents a significant step forward in our mission: To make healthcare more affordable and accessible, while improving the patient experience and healthcare outcomes through personalized healthcare,” said EUDA Health Founder & CEO Dr. Kelvin Chen. “Becoming a public company enables EUDA Health to further enhance its platform ecosystem and expand its comprehensive, end-to-end care throughout the Asia Pacific region and beyond. We are grateful for the support of the LAX leadership team throughout this transaction and are committed to providing lasting value to our shareholders, patients, and business partners.” James Meng Dong Tan, CEO & Director of 8i Acquisition 2 Corp., commented: “On behalf of LAX’s leadership and our investors, we would like to congratulate the EUDA Health team on a successful business combination. EUDA Health’s differentiated AI platform is a defining approach to personalized healthcare and on the cutting-edge of driving true patient empowerment. Our belief in EUDA Health’s value proposition...