Nuvo Group Ltd. entered into a non-binding letter of intent to acquire LAMF Global Ventures Corp. I (NasdaqGM:LGVC) from LAMF SPAC Holdings I LLC, Axxion S.A, Dennis Berman Revocable Trust, Nuvo Investors LLC and others for $300 million in a reverse merger transaction on April 28, 2023. Nuvo Group Ltd. entered into an agreement to acquire LAMF Global Ventures Corp. I from LAMF SPAC Holdings I LLC, Axxion S.A, Dennis Berman Revocable Trust, Nuvo Investors LLC and others in a reverse merger transaction on August 17, 2023. The LOI contemplates a pre-money equity valuation of $269 million, excluding a seller earnout of approximately $31 million. Under the terms of the LOI, LAMF and Nuvo would become a combined entity, with Nuvo?s existing shareholders exchanging their shares in Nuvo for equity in the combined public company. Jeffrey Soros and affiliates of 10X Capital have committed to make a financial investment in Nuvo in connection with the entry into a definitive agreement. The combined public company is expected to be listed on Nasdaq. The combined public company is expected to be led by Nuvo?s CEO, Kelly Londy.

The deal is subject to board and shareholder approval of both companies, regulatory approvals, registration statement shall have become effective, common stock issued as consideration shall have been approved for listing on NASDAQ, all applicable waiting periods under the HSR Act and other customary conditions. The boards of directors for both Nuvo and LAMF have unanimously approved the proposed business combination. The registration statement was declared effective by the SEC on March 1, 2024. The business combination is expected to close during the second half of 2023. Transaction is expected to close in the first quarter of 2024. As of April 2, 2024, LAMF Global Ventures Corp. I shareholders approve the merger with Nuvo Group Ltd. As of February 12, 2024, LAMF Global Ventures board of directors (the "Board") decided to extend the date by which the Company must consummate an initial business combination (the "Deadline Date") from February 16, 2024 to April 16, 2024. This is the fourth and fifth of up to six one-month extensions of the Deadline Date available to the Company pursuant to its amended and restated memorandum and articles of association. As of April 12, 2024, LAMF Global Ventures board of directors decided to extend the date by which the Company must consummate an initial business combination (the ?Deadline Date?) from April 16, 2024 to May 16, 2024 in order to facilitate the closing of the business combination agreement. This is the sixth of up to six one-month extensions of the Deadline Date available to the Company pursuant to its amended and restated memorandum and articles of association. As of April 29, 2024, Nuvo and LAMF expect the business combination to close on or about May 1, 2024

Daniel Nussen, Matthew Barnett, Victoria Rosamond, Sang I. Ji, Scott Fryman, F. Paul Pittman, Linda Sim and Keith Schomig of White & Case LLP and Herzog Fox & Neeman acted as legal counsels to LAMF and Greenberg Traurig, P.A. and Meitar acted as legal counsel to Nuvo. Morrow & Co., LLC acted as information agent to LAMF and will receive a fee of $15,000 for its role. ROTH Capital Partners, LLC acted as financial advisor and provided financial due diligence to LAMF. Continental Stock Transfer & Trust Company acted as transfer agent to LAMF Global Ventures Corp. I.

Nuvo Group Ltd. completed the acquisition of LAMF Global Ventures Corp. I (NasdaqGM:LGVC) from LAMF SPAC Holdings I LLC, Axxion S.A, Dennis Berman Revocable Trust, Nuvo Investors LLC and others in a reverse merger transaction on May 1, 2024. The combined company will retain the Nuvo name, along with its existing management and operational structure. The company's shares will be listed on NASDAQ under a new ticker symbol (NUVO) as of Thursday, May 2, 2024. The combined company will be led by Nuvo's Chief Executive Officer Rice Powell.