Viveon Health Acquisition Corp. (NYSEAM:VHAQ) executed a non -binding letter of intent to acquire Suneva Medical, Inc. from a group of shareholders for approximately $370 million on October 1, 2021. Viveon Health Acquisition Corp. (NYSEAM:VHAQ) entered into an agreement to acquire Suneva Medical, Inc. from a group of shareholders for approximately $370 million on January 12, 2022. Under the terms of agreement, Viveon Health will issue 25 million shares to current security holders of Suneva. Current Suneva security holders may also receive up to 12 million earn out shares, 4 million shares if the volume weighted average share price over any twenty trading days during a thirty day period exceeds $12.50 before the second year anniversary of the closing; 4 million shares if the volume weighted average share price over any twenty trading days during a thirty day period exceeds $15 before the third year anniversary of the closing; and 4 million shares if the volume weighted average share price over any twenty trading days during a thirty day period exceeds $17.50 before the five year anniversary of the closing. Pursuant to the terms of the Merger Agreement, a business combination between Viveon and Suneva was proposed to be effected through the merger of Merger Sub with and into Suneva, with Suneva surviving the merger as a wholly owned subsidiary of Viveon (the “Merger”). Upon completion of the transaction, Suneva Medical shareholders will own 49% stake in combined company and combined company's securities are expected to be traded on the NYSE under the symbol "RNEW." The pro forma equity valuation of the combined company is expected to be approximately $511 million. Chief Executive Officer, Pat Altavilla will lead the combined company, Suneva Medical, as Chief Executive OfficerJagi Gill, Chief Executive Officer and Chairman of Viveon Health, will join the Board of Directors of Suneva Medical.

The transaction is subject to approval by Suneva's stockholders, Viveon Health's stockholders and other customary closing conditions. The transaction has been approved unanimously by the Boards of Directors of Viveon Health and Suneva. on July 13, 2022 VHAQ filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission. The combined company is expected to be listed on the New york stock exchange upon completion of the transaction, which is expected to occur in the second half of 2022. As on March 21, 2022, Viveon Health Acquisition Corp. announced the approval of its board of directors to extend the date by which Viveon Health has to complete a business combination for an additional three months, to June 28, 2022, and, after June 28, 2022, on a monthly basis for up to six additional months, to December 28, 2022, without further stockholder approval. On July 13, 2022, the parties agreed to amend the merger agreement to reduce Viveon closing cash condition from $50 million, net of expenses to $30 million, net of expenses. Barbara Borden of Cooley LLP acted as legal advisor for Suneva. Chardan and Truist Securities acted as financial advisors while Mitchell S. Nussbaum, Rima R. Moawad, Jessica Isokawa, and Tahra Wright of Loeb and Loeb LLP acted as legal advisor for Viveon Health. Continental Stock Transfer & Trust Company acted as transfer agent to Viveon Health. Advantage Proxy acted as proxy solicitor to Viveon Health and Viveon will pay Advantage Proxy a fee of $10,000.

Viveon Health Acquisition Corp. (NYSEAM:VHAQ) cancelled the acquisition of Suneva Medical, Inc. from a group of shareholders on February 2, 2023.