Altitude Acquisition Corp. Announces Intention to
Merge with a Leading Global Medical Device Manufacturer
Atlanta, GA October 4, 2022 – Altitude Acquisition Corp.
(“Altitude”) (NASDAQ:ALTU) a publicly traded special purpose
acquisition company, has entered into negotiations to merge with a
leading global medical device manufacturer in a deal that pegs the
enterprise value of the company at approximately
$480 million. The proposed transaction calls for the
combined company to have at least $20 million in net cash at
time of closing.
The target, a leader in its medical device field with a product
that is commercially available and approved for use in over 30
countries, seeks additional expansion in the U.S., globally and in
new jurisdictions around the world. Altitude anticipates entering
into a letter of intent on or around October 31st and a
definitive merger agreement as soon as practicable thereafter.
“We believe the target is a market leader in its field and a
business combination would represent a tremendous opportunity for
us and our shareholders.” said Gary Teplis, President and Chief
Executive Officer of Altitude.
“I would also like to remind our stockholders that Altitude is
seeking stockholder approval of an extension of time to complete
our initial business combination, from October 11, 2022, to
April 11, 2023 (the “Extension”),” continued Teplis. “This
Extension will give us time to progress towards a business
combination with the target. If you are a stockholder of record as
of September 8, 2022, the record date for the stockholder
meeting, I urge you to vote in favor of the Extension.”
Stockholders who wish to withdraw their previously submitted
redemption request may do so prior to the stockholder meeting by
requesting that our transfer agent return such shares. You may make
such request by contacting our transfer agent, Continental Stock
Transfer & Trust Company, at 1 State Street, 30th Floor, New
York, New York 10004, Attn: Mark Zimkind (e-mail:firstname.lastname@example.org).
You are encouraged to submit your vote for the Extension as soon as
possible to ensure it is represented at the stockholder meeting.
Please note that if your shares are held at a brokerage firm or
bank, your broker will not vote your shares for you. You must
instruct your bank or broker to cast the vote. For assistance with
voting your shares please contact Morrow Sodali LLC, toll free at
at 1-203-658-9400 or by
email to ALTU.email@example.com.
Completion of a business combination with the Target is subject to,
among other matters, the completion of due diligence, the
negotiation of a definitive agreement providing for the
transaction, satisfaction of the conditions negotiated therein and
approval of the transaction by our stockholders. There can be no
assurance that a definitive agreement will be entered into or that
the proposed transaction will be consummated.
About Altitude Acquisition Corp.
Altitude Acquisition Corp. (Nasdaq: ALTUU, ALTU, ALTUW) is blank
check company newly incorporated as a Delaware corporation for the
purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses or entities.
Additional Information and Where to Find It
Altitude has filed a definitive proxy statement (the “Extension
Proxy Statement”) to be used to approve the Extension. Altitude has
mailed the Extension Proxy Statement to its stockholders of record
as of September 8, 2022 in connection with the Extension.
Investors and security holders of Altitude are advised to read the
Extension Proxy Statement and any amendments thereto, because these
documents will contain important information about the Extension
and Altitude. Stockholders will also be able to obtain copies of
the Extension Proxy Statement, without charge, at the SEC’s website
at www.sec.gov or by directing a request to: Altitude Acquisition
Corp., 400 Perimeter Center Terrace Suite 151, Atlanta, GA
Participants in the Solicitation
Altitude and its directors and executive officers may be considered
participants in the solicitation of proxies with respect to the
Extension under the rules of the SEC. Information about the
directors and executive officers of Altitude and a description of
their interests in Altitude and the Extension are set forth in
Altitude’s Annual Report on Form 10-K for the year ended
December 31, 2021, which was filed with the SEC on Mach 29,
2022 (the “Annual Report”) and the definitive Extension Proxy
Statement, which was filed with the SEC on September 9, 2022.
These documents can be obtained free of charge from the sources