Cardio Diagnostics Holdings, Inc. It is held under the symbol “CDIO” to start trading on NASDAQ.
Chicago, October 26, 2022–(BUSINESS WIRE)– Cardio Diagnostics Holdings, Inc. (“Cardio” or the “Company”), a pioneering precision cardiovascular medicine company at the intersection of epigenetics and artificial intelligence whose products improve the prevention, detection and treatment of cardiovascular disease, today announced its business combination (the “Business Combination”) with Manna Capital Acquisitions Corporation (Nasdaq : MAAQU; MAAQ; MAAQW; MAAQR) (“Mana Capital”) announced the completion of a publicly traded special purpose acquisition company.
The transaction was approved at a special meeting of shareholders of Mana Capital on Tuesday, October 25, 2022. Mana Capital’s board of directors has previously approved the business combination and has recommended that its stockholders support it and all other proposals related to the business combination.
The combined company is “Cardio Diagnostics Holdings, Inc.” It operates under the name and is led by CEO Misantini (Mesha) Dogan, PhD and the rest of the current management team. On October 26, 2022, Cardio’s common stock and public warrants are expected to begin trading on the Nasdaq Capital Market under the new trading symbols “CDIO” and “CDIOW.” The guaranteed exercise price for each cardio prescription is $11.50.
Cardio’s mission is to help physicians better diagnose and treat cardiovascular disease, the leading cause of death in the United States. At the core of its cardiovascular solutions is a proprietary integrated genetic-epigenetic engine™ developed by company founders Misha Dogan, PhD, and Robert Philibert, MD, PhD, at the University of Iowa. This technology will help in precise prevention, develop a series of tests for early detection and personalized treatment of major cardiovascular diseases and related diseases.
“Cardio-preventive measures can provide significant value across the health care continuum, but the bottom line is that they must be evidence-based,” said Mesha Dogan, Ph.D., CEO and co-founder of Cardio. “What is clear from our research is that we are missing a significant opportunity to prevent heart disease in moderation. Key health care stakeholders can successfully reduce heart disease in the United States and around the world by rethinking the current standard of cardiovascular care. Stronger, more patient-centered cardiovascular care We look forward to working with them to guide a realistic approach.
“We are very excited to combine with Cardio and create a publicly listed company that can transform cardiovascular disease through epigenetics. Cardio is the first company to develop and commercialize epigenetics-based cardiovascular clinical trials,” said Manna Capital Chairman Jonathan Interer. Clear pricing for patients, clinicians, hospitals/health systems and payers.
To celebrate the successful completion of the business combination, members of Cardio’s management team will ring the closing bell on the Nasdaq Stock Market at 4:00 pm Eastern Time on November 3, 2022.
Counselors
Benchmark Company LLC served as financial advisor to Mana Capital and Baker & Polikoff LLP served as legal counsel to Mana Capital.
Shartsis Friese LLP served as Cardio’s legal counsel.
About Cardio Diagnostics
Cardio Diagnostics is a biotechnology company that makes prevention and early detection of cardiovascular disease more accessible, personalized and accurate. The Company was established to become one of the leading medical technology companies to develop a proprietary artificial intelligence (AI)-driven integrated genetic-epigenetic engine TM (“Core Technology”) to enable early detection and improved prevention of cardiovascular disease. It helps in treating cardiovascular diseases. For more information, please visit www.cardiodiagnosticsinc.com.
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Amendment Act of 1995 regarding the business combination between Mana Capital and Cardio. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “predict,” “plan,” “plan,” “could,” “could,” “could,” “could,” “believe.” The words “anticipate,” “potential,” “continue,” “strategy,” “future,” “opportunity,” “likely,” “expect,” “outlook” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are predictions, forecasts and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that may cause actual results to differ from expected results. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and should not be relied upon by an investor as guarantees, assurances, predictions or accurate statements of fact or probability. Actual events and conditions are difficult or impossible to predict and may differ from estimates. These forward-looking statements include, without limitation, the combined company’s expected financial results, future performance, development and marketing of products and services, benefits and effects of the combined company’s products and services, regulatory approvals and anticipated financial effects. and other effects of the business combination on the combined company’s business, and the size and potential growth of current or future markets for the company’s products and services. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from anticipated results. Many of these factors are beyond the company’s control and are difficult to predict. Factors that could cause such differences include: the success, cost and timing of the Company’s integrated product development and commercialization, including the degree to which Cardio’s first trial, Epi+Gen CHD™, is accepted by patients; , healthcare professionals and participants in other key channels; the impact of COVID-19 on the combined company’s business; failure to maintain a listing of the combined company’s common stock on Nasdaq following the business combination; failure to realize the expected benefits of the business combination, among other things, competition and the combined company’s ability to grow and operate profitably and retain its key employees; changes in applicable laws or regulations; inability of the combined company to raise future financing; the combined company’s failure to obtain and maintain regulatory approval or approval for trials and any related limitations and restrictions on any refined or approved product; the combined company’s failure to identify, license or acquire additional technology; the combined company’s inability to maintain existing or future licensing, manufacturing, supply and distribution agreements; The combined company’s products and services may not compete with companies that are currently marketing or developing products and services that may serve the same or similar functions. the size and growth potential of the markets for the Company’s products and services and its ability to serve those markets alone or in collaboration with others, the cost of the combined Company’s products and services, and reimbursement for medical trials conducted using the Company’s products and services; A consolidated company’s estimate of costs, future earnings, capital requirements and needs for additional financing; the financial performance of the combined company; and other risks and uncertainties related to the business combination in the proxy statement/prospectus, including under “Risk Factors” therein, and in the combined company’s other filings with the Securities and Exchange Commission. The combined company cautions readers that the foregoing is not an exhaustive list and cautions readers not to place undue reliance on forward-looking statements that speak only as of the date hereof. The Combined Company does not undertake or undertake any obligation or undertaking to publicly release any updates or modifications to reflect any anticipated changes or any changes in events, conditions or circumstances.
Check out the source version at businesswire.com: https://www.businesswire.com/news/home/20221026005426/am/
Contacts
Investors:
Meesha Dogan, Ph.D.
General manager
855-226-9991
invest@cardiodiagnosticsinc.com
Media and Public Relations:
Kulani Abdullahi
651-208-9323
pr@cardiodiagnosticsinc.com
