Berenson Acquisition Corp. I (NYSEAM:BACA) entered into a definitive business combination agreement to acquire Berenson Acquisition Corp. I for approximately $190 million on December 22, 2023. The Proposed Transaction implies a $185 million pre-money equity value for Custom Health. Under the Proposed Transaction terms, Custom Health will combine with BACA and become a publicly-listed entity trading on the NYSE under its existing name. Following the closing of the proposed Business Combination, the Company?s board is expected to be comprised of seven directors, the majority of whom will be independent, consistent with the applicable NYSE listing rules.

Transaction is approved by BACAand Custom Health?s boards. The Proposed Transaction will require approval of both the stockholders of BACA and Custom Health and is expected to close during the second quarter of 2024, subject to the satisfaction of customary closing conditions. Proceeds from the Proposed Transaction and related financing are expected to be used to fuel organic growth and allow Custom Health to continue to execute on its proven add-on acquisition strategy.

Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC (?CCM?), served as exclusive financial advisor, capital markets advisor and placement agent to BACA. DLA Piper LLP (US) served as legal counsel to Custom Health. Greenberg Traurig, LLP served as legal counsel to BACA.