OneMedNet Announces de-SPAC Transaction with estimated value of $317 million with Data Knights Acquisition Corp.
IM Report Debra Vernon · Robert (Bob) Cocchia · Thomas M. White · Craig Tanner · Marc Kaufman · Juan Grana · Katie Hyman · Debbie A. Klis · Steven P. Eichel · April 26, 2022
We congratulate our client, OneMedNet Corporation, on the announcement of their de-SPAC transaction with Data Knights Acquisition Corp.
The transaction will result in a newly combined company named OneMedNet. Upon closing, OneMedNet will continue to be led by its CEO, Mr. Paul Casey, a 40-year public company veteran with a proven track record driving value creation and expansion. The boards of directors of OneMedNet and Data Knights Acquisition Corp. have unanimously approved the transaction. The transaction has an implied pro-forma enterprise value at closing of approximately $317 million. The transaction is expected to close in the second half of 2022.
OneMedNet was founded in 2009 by Jeffrey Yu, M.D. to solve a deficiency in how clinical images were shared between healthcare providers. The company’s OneMedNet iRWDTM offering plays a significant role in enabling life science companies to bring safer and more effective patient care products to market more quickly.
Rimon acted as legal counsel to OneMedNet Corporation with a team led by attorneys Debra Vernon and Debbie Klis. Rimon attorneys Steven Eichel, Bob Cocchia, Tom White, Victoria Yang, Craig Tanner, Marc Kaufman, Katie Hyman, and Juan Grana also advised on the deal.
Congratulations to OneMedNet Corporation and the Rimon team!