Digital Health Shareholders Unanimously Approve VSee Lab and iDoc Telehealth Acquisitions

[06-13-2024] Digital Health Acquisition announced shareholders by unanimous vote agreed to combine with VSee Lab, a telehealth software company, and iDoc Telehealth, a neurocritical care and intensive care telehealth provider.

There were no redemptions, the SPAC added.

At deal announcement in June 2022, the transaction had a valuation of approximately $110 million for the combined entity. VSee shareholders are expected to receive $60.5 million in stock and iDoc investors are to receive $49.5 million.

Digital Health in April extended the completion date to June 30, as well as the maturity date on its bridge notes and a $300,000 private placement.

The SPAC in the last year has added two backstops for up to $2 million and securites purchase agreements to support the deals.