Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Amplitude Healthcare Acquisition Corporation (Nasdaq: AMHC), a special purpose acquisition company, has seen its shares surge premarket after announcing that its stockholders voted to approve the business combination with Jasper Therapeutics.
Shareholders approved the business combination with Jasper, a biotechnology company, with 74.9% of the approximately 9.9 million votes in favour.
Holders of 9,262,099 shares of AMHC Class A common stock have chosen to redeem their shares, and as a result, Jasper has agreed to waive the requirement that the amount of cash available in AMHC’s trust account is at least $130 million.
Following the announcement, AMHC's share price rose over 73% to $17.75 premarket, making it one of the biggest movers ahead of the opening bell.
After the close of the SPAC merger, the combined company will operate under the name Jasper Therapeutics, Inc with its shares trading on the Nasdaq Capital Market.
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