DIH Holding US, Inc. Closes Business Combination with Aurora Technology Acquisition Corporation; Announces Updated Date for Commencement of Trading
08 February 2024 - 10:31AM
DIH Holding US, Inc., a leading global robotics and virtual reality
(“VR”) technology provider in the rehabilitation and human
performance industry, today announced that it has completed its
business combination with Aurora Technology Acquisition Corp.
(NASDAQ: ATAK) (“ATAK”), a publicly-traded special purpose
acquisition company (“SPAC”). DIH will use the cash from the
business combination to grow a strategic market base and expand its
position as the leading global provider of robotic and VR-enabled
rehabilitation technology.
DIH’s Class A common stock and Warrants will begin trading on
the Nasdaq Global Market (NasdaqGM) and Nasdaq Capital Market
(NasdaqCM), respectively, on February 9, 2024.
“We are thrilled to announce the closing of the business
combination and look forward to operating as a public company and
furthering our mission of bringing innovative care to patients
across a broad continuum of care,” said Jason Chen, Chairman and
Chief Executive Officer of DIH. “DIH will continue to expand its
global commercial efforts, partnering with best-in-class
institutions around the world and strive to offer the highest
quality of rehabilitative technology on the market.”
“We are excited to have completed our Business Combination with
DIH, a company dedicated to resolving unmet medical demands for so
many people with disability and functional impairments,” added
Zachary Wang, the Chief Executive Officer of ATAK.
The combined company will be led by Jason Chen as president and
chief executive officer, alongside his highly experienced executive
team. The combined Company’s Board of Directors will include Jason
Chen, Lynden Bass, Dr. Patrick Bruno, Max Baucus, F. Samuel Eberts
III, Ken Ludlum and Cathryn Chen.
Maxim Group LLC is serving as exclusive financial advisor to
DIH. Loeb & Loeb LLP is serving as legal counsel for DIH, and
Dentons U.S. LLP is serving as legal counsel for ATAK.
About DIH Holding US, Inc.
DIH stands for the vision to “Deliver Inspiration & Health”
to improve the functioning of millions of people with disability
and functional impairments. DIH is a global solution provider in
blending innovative robotic and virtual reality (“VR”) technologies
with clinical integration and insights. Built through the mergers
of global-leading niche technologies providers, DIH is positioning
itself as a transformative total smart solutions provider and
consolidator in a largely fragmented and manual-labor-driven
industry.
DIH website: www.DIH.com
About Aurora Technology Acquisition Corp.
Aurora Technology Acquisition Corp. is a Cayman
Islands-exempted, San Francisco-based, special purpose acquisition
corporation that re-domesticated to Delaware in connection with the
business combination. ATAK was formed as a blank-check company with
the purpose of entering into a merger with a high-growth technology
company, which preferably is founded by Asian or Asian-American
entrepreneurs who are building a global enterprise supported by
forward-thinking visions and innovative frontier technologies. ATAK
website: https://www.auroraspac.com/
Caution Regarding Forward-Looking
Statements
This press release contains certain statements which are not
historical facts, which are forward-looking statements within the
meaning of the federal securities laws, for the purposes of the
safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. These forward-looking statements include
certain statements made with respect to the Business Combination,
including the benefits of the Business Combination, the services
offered by DIH and the markets in which it operates, and DIH’s
projected future results. These forward-looking statements
generally are identified by the words “believe,” “project,”
“expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” and similar expressions.
Forward-looking statements are predictions provided for
illustrative purposes only, and projections and other statements
about future events that are based on current expectations and
assumptions and, as a result, are subject to risks and
uncertainties that could cause the actual results to differ
materially from the expected results. These risks and uncertainties
include, but are not limited to: general economic, political and
business conditions; failure to realize the anticipated benefits of
the business combination; the risk that the business combination
disrupts current plans and operations as a result of the
announcement and consummation of the business combination; the
ability of the combined company to grow and manage growth
profitably and retain its key employees; the inability to maintain
the listing of DIH’s securities on Nasdaq following the proposed
business combination; costs related to the business combination;
and those factors discussed in ATAK’s final prospectus/proxy
statement, dated November 14, 2023, and filed with the SEC on
November 15, 2023 and, in subsequent filings and reports made with
the SEC, from time to time. While ATAK may elect to update these
forward-looking statements at some point in the future, ATAK
specifically disclaims any obligation to do so.
Investor Contact:
Greg ChodaczekGilmartin Groupinvestor.relations@dih.com
Aurora Technology Acquis... (NASDAQ:ATAK)
Historical Stock Chart
From Nov 2024 to Dec 2024
Aurora Technology Acquis... (NASDAQ:ATAK)
Historical Stock Chart
From Dec 2023 to Dec 2024