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AMHC Stock: Why It Substantially Increased Today

AMHC Stock: Why It Substantially Increased Today
  • The stock price of Amplitude Healthcare Acquisition Corporation (Nasdaq: AMHC) increased by over 40% today. This is why it happened.

The stock price of Amplitude Healthcare Acquisition Corporation (Nasdaq: AMHC) – a special purpose acquisition company (SPAC) – increased over 40% during intraday trading today. Investors are responding positively to the company announcing that its stockholders voted to approve the previously announced business combination with Jasper Therapeutics, a biotechnology company focused on the development of novel curative therapies based on the biology of the hematopoietic stem cell, and all other proposals presented at AMHC’’s special shareholder’s meeting held on September 22, 2021.


AMHC’s shareholders approved the Business Combination proposal with 74.9% votes in favor of the approximately 9,872,643 AMHC votes cast at the meeting. And AMHC plans to file the results of the meeting, as tabulated by an independent inspector of elections.


The holders of 9,262,099 shares of AMHC Class A common stock have elected to redeem their shares in connection with the Business Combination. And as a result of such redemptions, Jasper has agreed to waive the requirement that the amount of cash available in AMHC’s trust account following the Business Combination be (in the aggregate) at least $130 million.


The Business Combination is expected to close on or about September 24, 2021. And following the closing, the combined company will operate as “Jasper Therapeutics, Inc.” and on or about September 27, 2021, the shares of voting common stock and warrants are expected to begin trading on the Nasdaq Capital Market.


Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.