Nuvo Group Ltd. entered into a non-binding letter of intent to acquire LAMF Global Ventures Corp. I (NasdaqGM:LGVC) 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 (NasdaqGM:LGVC) 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 led by Nuvo?s CEO, Kelly Londy. The deal is subject to board and shareholder approval of both companies, regulatory approvals and other customary conditions. The boards of directors for both Nuvo and LAMF have unanimously approved the proposed business combination. The business combination is expected to close during the second half of 2023. Transaction is expected to close in the first quarter of 2024.

White & Case LLP and Herzog Fox & Neeman acted as legal counsel to LAMF and Greenberg Traurig, P.A. and Meitar acted as legal counsel to Nuvo.