The business combination was previously approved by Data Knights’ stockholders at a special meeting held on October 17, but at that time, the SPAC did not provide a timeline regarding the closing of the deal.
In connection with last month’s meeting, stockholders holding 1,614,148 shares of Class A Common Stock exercised their right to redeem such shares. As a result, $17.9 million, approximately $11.12 per share, was removed from Data Knights’ trust, leaving around $1.1 million in the account.
Starting tomorrow, November 8, OneMedNet’s shares of common stock and warrants will trade on the Nasdaq under the ticker symbols “ONMD” and “ONMDW”, respectively. The combined company will now operate as OneMedNet Corporation.
Data Knights initially announced its $317 million combination with OneMedNet in April 2022. Minneapolis-based OneMedNet provides researchers with an archive of regulatory-grade medical images from scans and other hospital records.
Paul Casey, OneMedNet’s current CEO will continue to lead OneMedNet’s current management team along with Aaron Green, as President, and OneMedNet’s founder, Dr. Jeffrey Yu, as Chairman and Chief Medical Officer.