Aimfinity Investment Corp. I Amends Earnout Structure of Proposed Business Combination with Docter Inc. and appoints Dr. Jonathan Tien, Former Associate Director of Microsoft Research Asia, to join the Post-Merger Board of Directors
ATLANTIC CITY, N.J. - Feb. 11, 2025 - PRLog -- Aimfinity Investment Corp. I ("AIMAU") announced that, on January 29, 2025, it entered into an Amendment No. 2 to the Plan and Agreement of Merger (the "Merger Agreement") with Docter Inc. ("Docter"), originally executed in October 2023 (the "Amendment") to optimize the post-merger earnout mechanism to better align with the business conditions. In addition, recently, Dr. Jonathan Tien, former Associate Director of Microsoft Research Asia, has agreed to join the Board of Directors of the public company ("Pubco") following the Company's proposed business combination with Docter Inc. to further strengthen Pubco's strategic development at the cross-sections of smart healthcare and emerging technologies.
Adjustment of Earnout Target Time to increase market flexibility
According to the Amendment:
- the original 2024 earnout award in the amount of 1 million shares, payable to Docter shareholders upon equipment sales of at least 30,000 in 2024, has been amended to track equipment sales in 2025; and
- the original 2025 earnout award in the amount of 1.5 million shares, payable to Docter shareholders upon equipment sales of at least 40,000 in 2025, has been amended to track equipment sales in 2026.
I-Fa Chang, AIMAU's Chief Executive Officer, commented that "This change not only enhances Docter's flexibility to compete in the market, but also ensures that we are optimized to achieve our long-term growth objectives."
Dr. Jonathan Tien joins PubCo Board of Directors to strengthen emerging technology positioning
As a part of the strategy to further promote technological innovation, AIMAU and Docter have agreed to appoint Dr. Jonathan Tien as a Director.
Dr. Tien was formerly the Associate Director of Microsoft Research Asia and has over 30 years of experience in artificial intelligence, big data, and computer science. His career spans SpaceLabs Medical, bSQUARE, and Microsoft headquarters and Microsoft Research Asia, accumulating extensive experience in artificial intelligence and algorithmic applications. As director, Dr. Tien will counsel the PubCo on strategic issues involving emerging technology development, cross-disciplinary integrations, and cross-border collaborations.
"The smart medical device industry is entering a new era of AI empowerment," said Dr. Tien, "The proposed collaboration between AIMAU and Docter provides us with a unique opportunity to combine cutting-edge technology with real-world healthcare needs to drive the future of healthcare management. I look forward to working with the board members and management team to realize the PubCo's strategic goals. "
The merger transaction is moving ahead steadily
AIMAU anticipates that the proposed business combination with Docter will be successfully completed upon receipt of shareholder approval and that PubCo will continue to trade on the NASDAQ. A shareholder meeting will convene once the SEC completes its review and declares the PubCo's registration statement on Form F-4 (the "F-4") effective. Most recently, the F-4 was filed publicly by PubCo on February 3, 2025.
"The public filing of the F-4 marks an important step forward and we will continue to focus on advancing the merger process with Docter." I-Fa Chang, Chief Executive Officer of AIMAU, said, "This is not only an important milestone for AIMAU, but also a critical step in delivering on our commitment to create long-term value for our shareholders."
About Aimfinity Investment Corp. I (AIMAU)
AIMAU is a special purpose acquisition company (SPAC) that focuses on investing in companies with high growth potential and helping them to go public through mergers and acquisitions. The Company is committed to identify and drive the rapid growth of innovative technology, healthcare and emerging industries.
Docter Inc. is an innovative medical technology company focusing on the development of non-invasive blood glucose monitoring and smart health devices. Its core product, the DocterWatch, utilizes advanced sensing technology to provide users with blood glucose trend analysis, vascular health monitoring and early disease prediction services, and is dedicated to enhance the health management experience of users worldwide.
Source: Aimfinity Investment Corp.
Read Full Story - Aimfinity Investment Corp. I Amends Earnout Structure of Proposed Business Merger with Docter Inc | More news from this source
Press release distribution by PRLog
