) relating to its proposed acquisition by affiliates of Ambulnz, Inc. (d/b/a DocGo). Under the terms of the agreement, MOTN will acquire DocGo through a reverse merger, with DocGo emerging as a publicly traded company.
The investigation focuses on whether Motion Acquisition Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.
Click here for more information: http://monteverdelaw.com/case/motion-acquisition-corp. It is free and there is no cost or obligation to you.
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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Motion Acquisition Corp -- MOTN
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DocGo announces plans to go public through SPAC merger with Motion Acquisition Corp
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Ambulnz to Go Public Via Motion Acquisition SPAC
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March 19, 2021
March 19, 2021
Ambulnz Inc., a provider of mobile medical services and patient transportation, has agreed to go public through a merger with
Motion Acquisition Corp.
Light Street Capital and
Moore Strategic Ventures to support the transaction, which is set to value the combined entity at about $1.1 billion, according to a statement Tuesday, following an earlier Bloomberg report.
Ambulnz, to be renamed
DocGo Inc., is led by chief executive officer
Stan Vashovsky. The New York-based company, which operates in 23 U.S. states and the U.K., offers non-critical medical services to patients at home including vaccinations, blood work and testing, according to the statement.
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A company specializing in last mile telehealth and medical mobility services is going public in a SPAC deal announced Tuesday.
The SPAC Deal: Ambulnz is going public in a $1.1 billion deal with
Motion Acquisition Corp (NASDAQ: MOTN). As part of the merger, the company will rebrand as DocGo and trade with ticker DCGO after the merger closes.
Funds from the SPAC deal are expected to be used for “rapid geographic expansion,” according to the company. Current Motion Acquisition shareholders will own 10% of the new company.
About The Future DocGo: Founded in 2015, Ambulnz has a network of over 1,700 paramedics and EMTs that provide testing, vaccination, bloodwork, IV/hydration, wound care and mobile imaging.