secwatch.observer — SEC 8-K summary
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Issuer:     Cardio Diagnostics Holdings, Inc. (CDIO)
CIK:        0001870144
Form:       8-K
Filed at:   2022-05-31T23:59:59+00:00
Accession:  0001079973-22-000718
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1870144/000107997322000718/0001079973-22-000718-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1870144/000107997322000718/mana_8k-052722.htm
  HTML page:      https://secwatch.observer/filing/0001079973-22-000718

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