DKDCA merger with OneMedNet Corp
OneMedNet Corp — and the proposed business combination with Data Knights.
Structure & dilution
SEC-primary termsThe headline number ignores the shares that did not pay $10 — the founder promote, PIPE stock and warrants. This is the same deal with all equity claims counted.
- Min-cash condition
- $30M
An effective (post-dilution) figure needs either a stated pro-forma share count or the headline value plus the promote terms; the filings we hold do not yet state enough, and we will not print an estimate built on inventions.
Why headline and effective values differ is covered in headline vs effective deal value, in plain English.
The target: OneMedNet Corp
The business actually being bought — described from SEC primary filings, with projections labelled as projections.
and the proposed business combination with Data Knights. On April 25, 2022, Data Knights entered into a merger agreement with OneMedNet. The merger is expected be completed in the second half of 2022, subject to approval by Data Knights ' shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions and is expected to trade on the under the symbol “ONMD.” The transaction values OneMedNet at a pro forma enterprise value of $317 million. Included in the Registration Statement are OneMedNet’s financial results for the first quarter of 2022. For the period, OneMedNet generated $233,966 of net sales, an increase of 34% compared to the first quarter of 2021. OneMedNet 's full financial results and related disclosures can be found in the Registration Statement, which we encourage you to read. Included in the Registration Statement are OneMedNet's financial results for the first quarter of 2022. OneMedNet provides innovative solutions regarding the clinical image archives of healthcare providers. It securely de-identifies, searches, and curates a data archive locally, bringing a wealth of internal and third-party research opportunities to providers and regulators. FDA uses RWD and RWE to monitor post-market safety and adverse events and to make regulatory decisions. By leveraging this extensive federated provider network, together with industry leading technology and in-house clinical expertise, OneMedNet successfully meets the most rigorous Real World Data Life Science requirements.
OneMedNet Corp — every SPAC that has bid for it, and its listed peers
In plain English
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.