OneMedNet Acquisition Corp. (NASDAQ: ONMDW) is a special purpose acquisition company incorporated in Delaware in mid-2020. The company completed its initial public offering in 2021, selling units comprised of one share of common stock and one warrant, with the explicit purpose of identifying and consummating a business combination in the healthcare sector.
As a blank check company, OneMedNet does not currently generate operating revenue. Its core activity is sourcing, structuring and executing mergers or acquisitions with target businesses, with a strategic focus on digital health, telemedicine, diagnostic services and adjacent life science areas. Until a definitive acquisition is completed, proceeds from its IPO remain in a trust account.
OneMedNet’s management team and board of directors bring experience in healthcare investing, capital markets transactions and corporate strategy. This governance framework is charged with overseeing the search for an attractive target, negotiating transaction terms and securing shareholder approval for any proposed business combination.
Upon closing a successful acquisition, OneMedNet intends to transition from a blank check company into an operating public entity, leveraging the capital raised to support growth initiatives and expansion in core markets across North America and select international regions. The outstanding warrants, trading under the ONMDW symbol, entitle holders to purchase shares of common stock at a fixed exercise price following the consummation of a business combination.
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