LAX signs $550M SPAC merger with EUDA Health in all-stock deal

EUDA Health Holdings Ltd

Initial consideration of $550M in LAX shares at $10 per share; up to 9M additional earnout shares at $15, $20, $25 thresholds.
Closing conditions include LAX shareholders approval, regulatory clearances, minimum $10M EUDA cash, and $5M net tangible assets.
Seller locked up for 18 months post-close; CEO Meng Dong Tan holds 10% of Seller, a related-party interest.
Due diligence must be completed by May 31, 2022; deal target close by Nov 24, 2022 unless extended.
Joint press release issued April 12, 2022; LAX board unanimously approved and recommends shareholder approval.

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