Nuvo Group to become public through LAMF Global Ventures I combination

Nuvo Group and LAMF Global Ventures I announced that they have entered into a definitive business combination agreement. Upon the closing of the transaction, which is expected in the first quarter of 2024, the combined public company is expected to be listed on Nasdaq. The boards of directors for both Nuvo and LAMF have unanimously approved the proposed business combination, which is expected to be completed in the first quarter of 2024, subject to the receipt of the required approvals by Nuvo’s and LAMF’s shareholders and the fulfillment of other customary closing conditions. The transaction values Nuvo at a pre-money equity valuation of $269M and up to approximately $300M upon Nuvo achieving a commercial milestone.