The combined company plans to retain up to $113 million of cash on its balance sheet following the transaction, which would provide financial flexibility and facilitate organic and inorganic growth opportunities.
At the closing of the business combination approximately 29% of the common stock of the combined company is expected to be held by public investors, with existing OneMedNet equity holders owning approximately 51%.
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The transaction is expected to close during the second half of 2022, subject to the satisfaction of customary closing conditions.
About OneMedNet Corporation
Founded in 2009, OneMedNet provides innovative solutions that unlock the significant value contained within the clinical image archives of healthcare providers. Employing its proven OneMedNet iRWD™ solution, OneMedNet securely de-identifies, searches, and curates a data archive locally, bringing a wealth of internal and third-party research opportunities to providers. By leveraging this extensive federated provider network, together with industry leading technology and in-house clinical expertise, OneMedNet successfully meets the most rigorous RWD Life Science requirements.
About Data Knights Acquisition Corp.
Data Knights Acquisition Corp. is a blank check company formed for the purposes of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more tech or software businesses or entities.
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