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Spectral MD Holdings Ltd on Wednesday said that its combination with Rosecliff Acquisition Corp would be completed later this year.
Spectral MD, a London-headquartered artificial intelligence company focused on medical diagnostics for wound care treatment, announced earlier in April that it would list on the Nasdaq in the US by combining with the special purpose acquisition company.
The deal needs the approval of Spectral and Rosecliff shareholders.
The transaction’s completion is, Spectral MD said, subject to various factors, including the approval of its shareholders and Rosecliff’s stockholders.
Spectral noted a US regulatory filing from Rosecliff which contained certain terms of the deal.
Spectral MD says that it is ‘striving to revolutionize the management of wound care’ using its DeepView platform, a predictive diagnostic device that offers clinicians an immediate assessment of a wound’s healing potential prior to medical intervention.
Shares in Spectral MD were up by 4.6% at 46.00 pence each on Wednesday afternoon in London.
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