Senior Connect Acquisition Corp. I (NasdaqCM:SNRH) entered into a non-binding letter of intent to acquire Avellino Lab USA, Inc. on December 5, 2022. Under the terms of the LOI, SNRH and Avellino would become a combined entity, with Avellino?s existing equity holders exchanging their shares in Avellino for equity in the combined public company. Transaction would be subject to board and equity holders approval of SNRH and Avellino, regulatory approvals and other customary conditions. Definitive agreement is expected to be executed early in the first quarter of 2023.

Senior Connect Acquisition Corp. I completed the acquisition of Avellino Lab USA, Inc. on December 5, 2023, which is an estimated completion date.