Investing
Vaso Corporation set to merge with Achari Ventures, uplist to Nasdaq
© Reuters.
NEW YORK – Vaso Corporation, a provider of managed IT services, diagnostic imaging sales, and medical device manufacturing within the healthcare sector, is poised for a significant transformation through a merger with Achari Ventures Holdings Corp. I (NASDAQ:AVHI). The deal will take Vaso from the OTCQX market to the Nasdaq Stock Market and is expected to be completed in the first quarter of 2024.
The strategic business combination values Vaso at $176 million, translating to $10 per share. Post-merger, the combined entity will be led by Jun Ma and Vikas Desai, the current CEOs of Vaso and Achari respectively. Upon completion of the merger, shares and warrants are set to list on Nasdaq under the symbols “VASO” and “VASOW.”
The Boards of Directors of both companies have approved the merger subject to regulatory approvals by the Securities and Exchange Commission (SEC) and the green light from stockholders of both companies. Notably, 44% of Vaso’s shareholders have already expressed their support for the transaction.
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