San Antonio, Texas, July 22, 2024 (GLOBE NEWSWIRE) -- Clearday (CLRD:OTC EXMKT) ("Clearday" or the "Company") is pleased to inform market participants, partners and stakeholders of the Company's efforts during the first half of 2024 and reconfirm its efforts for the previously announced business combination with Viveon Healthcare Acquisition Corporation (VHAQ:OTC EXMKT) ("Viveon").
Clerday has spent years evolving to a tech-centric service provider to the Senior Living sector. The Company has developed software and other services and other services to provide therapies, engagement and encouragement to Older Americans. The software can be delivered via tablet, smartTV or companion robotics. The Company calls these digital assistants.
This work was recognized by Viveon. The Viveon leadership team are experienced professionals with extensive medical device expertise. They recognized the value of the efforts by Clearday to unlock some of the challenges faced by the Senior Living industry. The two companies previously announced a business combination and Viveon and Clearday have jointly worked together to complete this combination. The terms of this combination include listing the common stock of the combined company on an exchange such as NASDAQ or NYSE American.
Mr. Walesa noted that, on July 19, Viveon publicly reconfirmed its commitment to the business combination and Mr. Walesa echoed the statement by Viveon in that recent SEC filing that
The Companies have been working diligently on the transaction and intend to complete the business combination in the near future. The parties are focused on completing the business combination and associated financing to support the execution of the business plan and listing on a major stock exchange. There is no guarantee that the initial listing application for the combined company's securities will be approved by a national securities exchange."
James Walesa, the CEO of Clearday, made the following comments and observations, "I have heard from many veteran investment bankers that financings in the last two years have been difficult due several reasons including high interest rates and international conflicts, especially for high growth companies that are resource constrained in both personnel and capital. We appreciate the efforts of all our stakeholders to help Clearday fulfill its potential. As a reminder to all Clearday common stockholders, our agreement with Viveon provides for a set number of shares to the Clearday stockholders. The value of the business combination to our stockholders is not determined by the value of Clearday's common stock at closing. Clearday stockholders will receive a pro rata basis of shares of the combined company at close of the business combination. Additionally, Clearday is taking actions to complete its SEC filings that would allow our common stock to trade on the Pink OTC Market".
Walesa continued, "with this in mind, the management of both companies have focused on working together to solve the financial constraints that have challenged both companies, complete their SEC filings and successfully complete the business combination including listing the common stock on an exchange".
About Clearday
Clearday is a publicly traded innovative non-acute longevity healthcare services company with a modern, hopeful vision for making high-quality care options more accessible, affordable, and empowering for older Americans and those who love and care for them and is dedicated to enhancing the lives of adults through innovative cognitive care solutions. With a focus on personalized care and groundbreaking technology, Clearday is at the forefront of redefining the standards of senior living. Clearday has a decade-long experience in non-acute care. Clearday at Home - its digital service - brings Clearday to the intersection of telehealth, Software-as-a-Service (SaaS), and subscription-based content. Learn more about Clearday at myclearday.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of terms such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target," "trajectory," "focus," "work to," "attempt," "pursue," or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances and are not guarantees of future performance. Actual results may differ materially from those indicated by forward-looking statements as a result of various factors, risks and uncertainties. These forward-looking statements should not be relied upon as representing Clearday's views as of any date subsequent to the date hereof. This release includes information from third sources from published reports providing such information and we have assumed the accuracy of such reports without independent investigation or inquiry. This communication is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to purchase any securities of the Company.
Media Contact:
Eric Dusansky
504-381-4603
eric@inflectionpartnersllc.com
