DIH Holding US (NASDAQ: DHAI) witnessed a remarkable ascent in its stock price, accompanied by robust trading activity on Monday.
This surge follows closely on the heels of the company’s recent public debut. DHAI commenced trading on Friday following a merger with a special purpose acquisition company (SPAC), Aurora Technology Acquisition.
Jason Chen, the Chairman and CEO of DIH Holding US, expressed enthusiasm regarding the merger, stating,
“We are thrilled to announce the closing of the business combination and look forward to operating as a public company and furthering our mission of bringing innovative care to patients across a broad continuum of care.”
Simultaneous with its public offering, DIH Holding US also revealed a $1.5 million private placement agreement with OrbiMed. Under this arrangement, DIH Holding US sold 150,000 shares of DHAI stock to OrbiMed at a rate of $10 per share.
DIH Holding (NASDAQ: DHAI) Stock Movement
DHAI stock soared 22.54% to close at $1.60 on Monday. The traders had exchanged hands with 35,407,075 (35.40 million) shares compared to the average daily trading volume of 1.08 million.
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