United Gear & Assembly, Inc. completed the acquisition of Aesther Healthcare Acquisition Corp. from Aesther Healthcare Sponsor, LLC and others in a reverse merger transaction.
Transaction requires the approval of both Aesther and United Gear Stockholders approval, expiration of any applicable waiting period under any antitrust laws, receipt of requisite consents from governmental authorities, receipt of specified requisite consents from other third parties, AHAC shall have net tangible assets of at least $5,000,001, Proxy Statement shall have cleared comments by the SEC, United Gear shall have entered into the Line of Credit, AHAC shall have obtained a fairness opinion, AHAC having received a customary Non-Competition Agreement and a Lock-Up Agreement executed and other conditions. The boards of directors of Aesther and United Gear approved the merger agreement. Outside date of the transaction is December 17, 2022.
Barry I. Grossman of Ellenoff Grossman & Schole LLP is serving as legal advisor to Aesther and Joseph T. Ceithaml of Barack Ferrazzano Kirschbaum & Nagelberg LLP is acting as legal advisor to United Gear. EF Hutton, division of Benchmark Investments, LLC, is serving as capital markets advisor to Aesther. Colonnade Securities LLC is acting as financial advisor to United Stars. Barry I. Grossman of Ellenoff Grossman & Schole LLP acted as legal advisor to Aesther Healthcare Sponsor, LLC. Continental Stock Transfer & Trust Company acted as transfer agent to Aesther. The Mentor Group, Inc. acted as Fairness opinion provider for Aesther Healthcare Acquisition Corp.
United Gear & Assembly, Inc. completed the acquisition of Aesther Healthcare Acquisition Corp. (NasdaqGM:AEHA) (AHAC) from Aesther Healthcare Sponsor, LLC and others in a reverse merger transaction on July 18, 2022. The merger agreement was terminated by the mutual agreement of both the parties.