Aimei Health Technology Announces Amendment to Trust Agreement and Promissory Note

Aimei Health Technology Co., Ltd (NASDAQ: AFJKU) recently disclosed, through a Form 8-K filing with the Securities and Exchange Commission, the approval of crucial amendments to its Trust Agreement and the issuance of a Promissory Note.

The Trust Agreement, initially entered into on December 1, 2023, with Continental Stock Transfer & Trust Company, as trustee, has been modified through the Trust Agreement Amendment. This amendment adjusts the funds to be deposited into the Trust Account concerning the extension of the timeframe for the Company’s initial business combination. The amount will now be $150,000 for all outstanding Public Shares, instead of $0.033 per each share sold in its IPO, for each monthly extension.

Alongside this, the Company issued an unsecured Promissory Note on February 6, 2025, amounting to $150,000 in total principal. This note was split equally between Aimei Investment Ltd and United Hydrogen Group Inc., the Payees, to fund the Extension Payment. The principal under the note is due and payable upon the consummation of a business combination with United Hydrogen. The Payees also have the option to convert the Promissory Note into private units of the Company, each comprising one ordinary share and one right.

Moreover, based on the results of the Adjourned Meeting, Aimei Health Technology amended Article 35.2 of its Articles of Association, effective February 6, 2025. Following this, shareholders exercised their right to redeem 2,904,267 Public Shares, resulting in an approximate redemption cost of $10.77 per share, overall totaling around $31.27 million. Post-redemptions, the Trust Account will retain approximately $43.02 million balance, with 6,121,733 shares outstanding.

By providing these proactive updates, Aimei Health Technology is displaying its commitment to transparent operations and adherence to regulatory standards, ensuring accountability and clarity for its investors and stakeholders.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Aimei Health Technology’s 8K filing here.

About Aimei Health Technology

Aimei Health Technology Co, Ltd does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. It intends to acquires businesses in the biopharmaceutical, medical technology/device industries or diagnostic, and other services sectors.