- Digital healthcare company ETAO International is set to go public through a merger with SPAC Mountain Crest Acquisition Corp. III (NASDAQ:MCAE).
- The deal values ETAO with an enterprise value of ~$2.5B.
- The transaction includes a $250 million private investment in public equity at $10 per share from China SME Investment Group that is scheduled to close at the same time as the merger. A separate private placement of $51M is expected to close before Feb. 15.
- The merger is expected to close this summer. At that time, the combined company will trade under the symbol (ETAO).
- ETAO considers itself a digital healthcare group providing telemedicine, hospital care, primary care, pharmacy and health insurance.
SPAC Mountain Crest taking ETAO International public valuing company at $2.5B
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Symbol | Last Price | % Chg |
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ETAO | - | - |
ETAO International Co., Ltd. |