Digital Health Acquisition Corp. PIPE financing terminated after business combination fails to close by July 10 deadline

VSEE HEALTH, INC.

PIPE Investors notified DHAC on July 11 that the $8M+ financing is terminated due to missed July 10 closing deadline.
The PIPE SPA was originally entered Oct 2022, amended Apr 2023 to include the outside date condition.
Business combination that relied on the PIPE has not closed; no new agreement disclosed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VSEE HEALTH, INC. terminated First Amended and Restated Securities Purchase Agreement with the PIPE Investors (effective 2023-07-11).

Action: termination
Agreement: equity purchase
Counterparty: the PIPE Investors
Effective: 2023-07-11

Exact text from the filing

On July 11, 2023, each of the PIPE Investors provided notice to the Company that since the Outside Date Closing Condition was not met, the PIPE Investors were under no obligation to close the PIPE Financing.

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VSEE HEALTH, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-081185

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