Mana Capital SPAC to merge with Cardio Diagnostics in deal valuing target at $75M base

Cardio Diagnostics Holdings, Inc.

Cardio stockholders to receive shares of Mana Capital common stock valued at $10.00/share; base consideration $75M.
Additional earnout up to 1M shares if stock price reaches $12.50, $15.00, $17.50, $20.00 thresholds.
Closing conditions include Mana stockholder approval, Nasdaq listing, minimum $5M net tangible assets, and $4.5M private placement.
Expected closing Q3/Q4 2022; outside date Dec 23, 2022; Cardio pays $3M breakup fee in certain termination scenarios.
Post-closing board: six directors designated by Cardio, one by Mana; executive officers become Cardio's officers.

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