Spectral MD - Combination with Rosecliff Acquisition
Spectral MD has announced a proposed business combination with Rosecliff Acquisition (Rosecliff), a blank cheque, Special Purpose Acquisition Company (SPAC). The transaction offers a potential multiple uplift to the current share price but will result in the combined business, to be renamed ‘Spectral AI', being listed solely on the Nasdaq market with the AIM listing to be cancelled. Spectral MD highlights a potential enterprise value of $170m, equivalent to approximately 101p per share, effectively equivalent to the current trading value of Rosecliff and almost four times Spectral MD's current share price of 28p. The transaction is expected to close in 3Q23.
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