LAMF Global Ventures Corp. I (NASDAQ: LGVC) witnessed a remarkable surge in its stock valuation during the preceding trading session, marking a substantial uptick of 17.37% to culminate at $8.11. This escalation in LGVC shares followed news of completion of merger.
LAMF Global Ventures (LGVC) declared the successful conclusion of its amalgamation with Holdco Nuvo Group D.G Ltd (NASDAQ: NUVO) and Nuvo Group Ltd. The amalgamated entity will retain the appellation Nuvo, alongside its current cadre of management and operational framework. Henceforth, the company’s shares will be listed on NASDAQ under a novel ticker symbol (NUVO) commencing Thursday, May 2, 2024.
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Nuvo is actively engaged in ameliorating health disparities and dismantling barriers hindering access to superior pregnancy care through INVU, an innovative pregnancy monitoring and management platform. INVU integrates wearable technology, AI, and machine learning to furnish patients and healthcare professionals with real-time, actionable insights into maternal-fetal health.
This FDA-cleared platform, prescribed by physicians, facilitates fetal non-stress tests (NSTs) with patients regardless of location, thereby augmenting care accessibility, alleviating staffing constraints, and enriching the quality and comprehensiveness of data accessible for decision-making purposes. The wearable band and accompanying mobile application capture maternal and fetal heart rates as well as uterine activity signals, which are then processed in the cloud and transmitted instantaneously for clinician assessment.
The amalgamated enterprise will be helmed by Nuvo’s Chief Executive Officer, Rice Powell, a luminary in the industry boasting four decades of experience and a track record of addressing consumer health requirements while satisfying payor and provider exigencies.
The amalgamation, sanctioned during a special meeting of LAMF Global Ventures’ shareholders on April 1, 2024, and an extraordinary general meeting of Nuvo shareholders on March 1, 2024, will furnish Nuvo with access to capital markets, thereby catalyzing commercial expansion, global outreach, and acceleration of its innovation endeavors.
