American Oncology Network, LLC completed the acquisition of Digital Transformation Opportunities Corp. from a group of shareholders.
The closing of the proposed Business Combination is subject to approval by DTOC?s stockholders, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, the continued validity and effectiveness of the written consent of the AON shareholders approving the Business Combination, the receipt of certain required regulatory consents or approvals with respect to the Business Combination, the listing of the shares of DTOC Class A common stock on Nasdaq and other customary closing conditions, including any applicable regulatory approvals. As on September 19, 2023, DTOC?s stockholders approved the business combination. The deal is expected to close in the first half of 2023.
David M. Hernand, Lucas Rachuba, Stephen H. Harris and Jonathan Ko of Paul Hastings LLP is serving as legal advisor to DTOC. Woolery & Co. PLLC and Ilan Katz and Brian Lee of Dentons US LLP are serving as legal advisors to AON. Mark Zimkind of Continental Stock Transfer & Trust Company acted as DTOC?s transfer agent. DTOC has engaged Morrow Sodali LLC (?Morrow Sodali?) to assist in the solicitation of proxies for the Special Meeting. DTOC has agreed to pay Morrow Sodali a fee of $12,500, plus disbursements. Richard Zall of King & Spalding LLP acted as legal advisor to Digital Transformation Opportunities Corp. Kroll, Inc. acted as due diligence provider to DTOC. As of August 21, 2023, Digital Transformation Opportunities Corp. extended the period of time by which the Company must complete its initial business combination with American Oncology Network, LLC (?AON?) from August 31, 2023 to September 30, 2023. The Company also announced that, on August 21, 2023, in accordance with the Company's certificate of incorporation, the Sponsor has timely deposited into the trust account an aggregate of $50,000 in order to effect such extension.
American Oncology Network, LLC completed the acquisition of Digital Transformation Opportunities Corp. (NasdaqCM:DTOC) from a group of shareholders on September 20, 2023.