Danam Health, Inc. entered into a definitive agreement to acquire Artemis Strategic Investment Corporation (NasdaqGM:ARTE) in a reverse merger transaction on August 7, 2023. Danam?s stockholders will receive consideration in the form of newly issued shares of common stock Artemis, valued based on an aggregate implied enterprise value for Danam of $200 million, including up to approximately $30 million of such common stock as contingent consideration, subject to customary adjustments for Danam?s closing working capital, cash and debt. Upon closing of the merger as provided in the transaction, the combined company will be named Danam Health Holdings Corporation. Danam Health?s common stock and warrants are expected to be listed on NASDAQ. Following the closing of the Transaction, Suren Ajjarapu will serve as the Chief Executive Officer and Chairman of the Board of Directors of Danam Health. The Board of Directors of Danam Health is also expected to include Philip N. Kaplan and Prashant Patel.

The transaction is subject to, among other things, receipt of applicable governmental, regulatory, and third-party approvals, satisfaction of minimum closing net tangible asset and cash requirements, and the satisfaction or waiver of other customary closing conditions. The transaction was unanimously approved by the respective boards of directors of all parties. Nelson Mullins Riley & Scarborough LLP is serving as legal counsel for Danam, and Ellenoff Grossman & Schole LLP is serving as legal counsel for Artemis.