Data Knights Acquisition Corp. *
PROPOSED BUSINESS COMBINATION: OneMedNet
ENTERPRISE VALUE: $279.9 million
ANTICIPATED SYMBOL: ONMD
Data Knights Acquisition Corp. proposes to combine with OneMedNet.
Founded in 2009, OneMedNet provides solutions that unlock the significant value contained within the clinical image archives of healthcare providers.
OneMedNet are the developer of a medical imaging data platform designed to provide prompt and secure access to curated medical images. The company’s technology helps to electronically share and exchange imaging studies between hospitals, clinics, physicians and researchers, eliminating traditional information silos to improve care quality, enabling clients to manage their medical image exchange and reduce healthcare costs and waste.
EXTENSION – 8/11/23 – LINK
- The SPAC approved the extension from August 11, 2023 to May 11, 2024.
- 1,018,846 shares were redeemed.
- $75K per month will be deposited into the trust account.
EXTENSION 11/15/22 – LINK
- The SPAC has approved the extension to complete a business combination from November 11, 2022, up to nine one-month extensions to August 11, 2023.
- 8,768,456 shares have been redeemed.
- $0.045 per/share will be contributed to the trust account for each month they need to complete a business combination.
EXTENSION 5/5/22 – LINK
- The company extended the time to complete a business combination from from May 11, 2022 to August 11, 2022.
- The Sponsor deposited $1,150,000 into the trust account for the extension, $0.10/Share
TRANSACTION
- The transaction reflects an implied Pro-forma enterprise value at closing of approximately $317 million.
- Assuming no redemptions by Data Knights’ existing public stockholders, the aggregate consideration to OneMedNet equity holders will be approximately $317 million, consisting of up to $117 million of cash consideration and $200 million or more of rollover equity.
- The transaction is expected to close during the second half of 2022, subject to the satisfaction of customary closing conditions.

PIPE
- The Company has agreed to use its reasonable commercial efforts to obtain at least $30,000,000 of additional equity capital through the sale of at least 3,000,000 shares of its Class A Common Stock at $10.00 per share to private investors.
- There can be no assurance that the Company will be able to arrange the PIPE Financing.
LOCK-UP
Company & Sponsor Lock-Up:
- At the Closing, the Company and certain directors, officers and stockholders of the Target will enter into a lock-up agreement, which provides for the Company securities held by the Subject Parties to be locked up for a period of six months from the date of the Closing.
NOTABLE CONDITIONS TO CLOSING
- Closing is subject to the Data Knights having at least $5,000,001 in tangible net assets upon the closing.
NOTABLE CONDITIONS TO TERMINATION
- The Merger Agreement may be terminated by the mutual written consent of the Company and the Target, if the Closing has not occurred by June 30, 2022, subject to extension if the Company secures one or more extensions of the deadline to complete its initial business combination.
ADVISORS
- ARC Group Ltd. is acting as sole financial advisor and capital markets advisor to Data Knights Acquisition Corp.
- Rimon P.C. is acting as legal counsel to OneMedNet Corporation.
- Nelson Mullins LLP is acting as legal counsel to Data Knights Acquisition Corp.
MANAGEMENT & BOARD
Executive Officers
Barry Anderson, 44
Chairman, Chief Executive Officer and Director
Mr. Andreson has been serving as the Chief Executive Officer of Present D’Lloyd Technologies Ltd since September 2019, where he has conceptualized and implemented the business development strategy that has yielded significant results in raising the company profile. From October 2011 to September 2019, Mr. Anderson served as the Managing Director of Serba Dinamik International Ltd, where he provided leadership and vision to the organization by assisting the board of directors with the development of long range and annual strategies and planning. From July 2013 to September 2019, Mr. Anderson served as the Non-Executive Director of Quantum Offshore Ltd, where he was assisting and identifying new areas for development and providing guidance on capital raising activities. Mr. Anderson currently sits on the board of directors and contributes his years of experience to develop new areas for growth by creating meaningful and lasting relationships with key customers for future business. From January 2007 to August 2011, Mr. Anderson served as the Business Development Manager of Serba Dinamik Sdn Bhd, where he developed and managed a sales team to promote nitrogen generation, turbine, and compressor services. Mr. Anderson effectively implemented sales strategies to achieve targets, and generated key accounts and term contracts with clients globally. From January 2007 to September 2008, Mr. Anderson served as the Business Development Manager of RAM Global Ltd, where he was responsible for the sales and marketing of advanced polymer products. In 1998, Mr. Anderson received his Bachelor of Arts Degree in Asian Studies at Manchester University.
Firdauz Edmin Bin Mokhtar, 48
Chief Financial Officer and Secretary
Mr. Mokhtar has been serving as the Senior Vice President, Special Project of Group CEO Office, of Serba Dinamik Holdings Berhad. In May 2012, Mr. Mokhtar joined PBJV Group Sdn Bhd (PBJV) as the Chief Financial Officer with the primary task to list the group in Bursa Malaysia. PBJV was successfully listed in Bursa Malaysia in November 2013 under a new investment holding company, Barakah Offshore Petroleum Berhad (Barakah). Mr. Mokhtar was also transferred from PBJV to Barakah as group Chief Financial Officer. Prior to joining PBJV, Mr. Mokhtar was employed by TidalMarine Engineering Sdn Bhd (TidalMarine) as Director of Corporate Affairs and Finance since May 2007. TidalMarine is one of the leading marine engineering companies in Malaysia specializing in marine and infrastructure services. In October 2005, Mr. Mokhtar joined PECD Berhad as a Manager in its Investment Division, where he was primarily responsible for evaluating and acquiring concession type assets in the water, infrastructure, power, oil and gas sectors. Subsequently in October 2006, he was promoted to Head of Corporate Affairs (Group CEO Office). In May 2003, Mr. Mokhtar joined Ranhill Berhad (RB) as the Senior Manager of Corporate Planning, where he was instrumental in the acquisition and debt restructuring of Ranhill Power Berhad (formerly known as EPE Power Corporation Berhad) and Ranhill Utilities Berhad. Upon receiving his Bachelor Degree (Honours) in Accountancy in July 1997 from International Islamic University Malaysia, Mr. Mokhtar started his career at PwC Malaysia in the Corporate Finance/Recovery Department before he moved to the Corporate Finance Department at Alliance Investment Banks in July 1999. Mr. Mokhtar is also a Certified Public Accountant registered with the Malaysian Institute of Accountants.
Board of Directors
Syed Musheer Ahmed, 37
Director
Mr. Ahmed co-founded FinStep Asia based in Hong Kong and has been serving as its Managing Director since October 2019. FinStep Asia is a venture builder where Mr. Ahmed facilitated fintech partnerships across Asia, Europe and the U.S. for a Singaporean e-commerce Unicorn, and provided market entry strategy and growth advisory services to fintech firms across Asia, with a focus on Hong Kong, India and Singapore. From October 2017 to October 2019, Mr. Ahmed co-founded the Fintech Association based in Hong Kong and has been serving as its General Manager. The Fintech Association of Hong Kong is the representative body for Hong Kong’s Fintech Industry, where Mr. Ahmed developed strategic, digital and policy frameworks for the financial services and fintech industry in Hong Kong. From January 2016 to July 2017, Mr. Ahmed served as the Senior Consultant and Co-head of Risk and Regulations at GreySpark Partners based in Hong Kong. GreySpark is a global management consulting firm with a focus on financial services technology. From July 2005 to June 2014, Mr. Ahmed served as the Country Head of Hertshten Group and its subsidiaries. Hertshten Group is one of the world’s largest firms in fixed income and commodities futures trading. In August 2015, Mr. Ahmed received his MBA degree with a focus on Finance and Strategy, from the London Business School and the University of Hong Kong. In June 2005, Mr. Ahmed received his Bachelor of Engineering degree from R.V.C.E. in India.
Julianne Huh, 52
Director
Since October 2017, Dr. Julianne Huh has been serving as the Director of S&I F&B Management Sdn, Bhd based in Kuala Lumpur, Malaysia, where she manages the overall business, operations and marketing of 2 Ox French Bistro. From June 2016 to August 2017, Dr. Huh served as the Vice President of The Mall of Korea based in Bangkok, Thailand, where she managed projects for business set-up, construction of department stores and nine restaurants. Dr. Huh also managed the overall business, operations and marketing while serving as the Vice President during this time. From November 2013 to June 2016, Dr. Huh served as the Director of Business Development of Juna International Ltd based in Shanghai, China and Seoul, Korea, where she oversaw China Business Development in the entertainment and music industry. From August 2006 to June 2016, Dr. Huh founded the Wonderful World of Learning (WWL) and served as its General Manager based in Shanghai, where she managed the overall business and operations of the preschool, curriculum development and teacher training. From October 2011 to May 2014, Dr. Huh served as the Managing Partner as well as Vice President of Pronovias Korea based in Seoul, Korea, where she launched the wedding dress brand “Pronovias” of the Spain flagship store as the sole franchise for the Korean market. Dr. Huh also oversaw and managed operations, marketing, PR and bi-annual buying and merchandising. From September 2009 to September 2019, Dr. Huh founded Only Natural Organic Bath Products based in Shanghai, China, where she was in charge of brand development and sales for charity purposes. In May 2005, Dr. Huh received her Doctor of Education (Ed.D) degree at the University of Massachusetts in the U.S. In May 1995, Dr. Huh received her Master’s of Education (M.Ed) degree from the University of Massachusetts in the U.S. In June 1993, Dr. Huh completed two semesters of courses at the MBA program at the Yonsei University in Seoul, Korea. In February 1991, Dr. Huh received her Bachelor of Arts degree in English Language and Literature from Ewha Women’s University in Seoul, Korea.
Annie Damit Undikai, 59
Director
Since August 2005, Ms. Undikai has been serving as a Director of Brighton Management Limited, an underwriting and insurance management firm. Since November 2007, Ms. Undikai has been serving as a Director of Brighton International Management SDN BHD, an affiliate of Brighton Management Limited providing management and support services. Since September 2010, Ms. Undikai has been serving as a Director of Brighton International Group Limited, an affiliate of Brighton Management Limited. Since August 2013, Ms. Undikai has been serving as a Director of Brighton Management Singapore PTE Ltd., an affiliate of Brighton Management Limited providing management and support services. Since December 2019, Ms. Undikai has also been serving as a Director of Park Lane PCC Limited, a captive insurance company. In July 1983, Ms. Undikai received her Bachelor of Arts with Honors in Accounting and Computing from the University of Kent at Canterbury in the United Kingdom. Ms. Undikai is a Fellow Member of the Association of Chartered Certified Accountants.
