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DIH Holding US, Inc. Closes Business Combination with Aurora Technology Acquisition Corporation; Announces Updated Date for Commencement of Trading
NORWELL, Mass. and SAN FRANCISCO, Feb. 07, 2024 (GLOBE NEWSWIRE) -- DIH Holding US, Inc., a leading global robotics and virtual reality (“VR”) technology provider in the rehabilitation and human performance industry, today announced that it has completed its business combination with Aurora Technology Acquisition Corp. (NASDAQ: ATAK) (“ATAK”), a publicly-traded special purpose acquisition company (“SPAC”). DIH will use the cash from the business combination to grow a strategic market base and expand its position as the leading global provider of robotic and VR-enabled rehabilitation technology. DIH’s Class A common stock and Warrants will begin trading on the Nasdaq Global Market (NasdaqGM) and Nasdaq Capital Market (NasdaqCM), respectively, on February 9, 2024. “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,” said Jason Chen, Chairman and Chief Executive Officer of DIH. “DIH will continue to expand its global commercial efforts, partnering with best-in-class institutions around the world and strive to offer the highest quality of rehabilitative technology on the market.” “We are excited to have completed our Business Combination with DIH, a company dedicated to resolving unmet medical demands for so many people with disability and functional impairments,” added Zachary Wang, the Chief Executive Officer of ATAK. The combined company will be led by Jason Chen as president and chief executive officer, alongside his highly experienced executive team. The combined Company’s Board of Directors will include Jason Chen, Lynden Bass, Dr. Patrick Bruno, Max Baucus, F. Samuel Eberts III, Ken Ludlum and Cathryn Chen. Maxim Group LLC is serving as exclusive financial advisor to DIH. Loeb & Loeb LLP is serving as legal counsel for DIH, and Dentons U.S. LLP is serving as egal counsel for ATAK. About DIH Holding US, Inc. DIH stands for the vision to “Deliver Inspiration & Health” to improve the functioning of millions of people with disability and functional impairments. DIH is a global solution provider in blending innovative robotic and virtual reality (“VR”) technologies with clinical integration and insights. Built through the mergers of global-leading niche technologies providers, DIH is positioning itself as a transformative total smart solutions provider and consolidator in a largely fragmented and manual-labor-driven industry. DIH website: www.DIH.com About Aurora Technology Acquisition Corp. Aurora Technology Acquisition Corp. is a Cayman Islands-exempted, San Francisco-based, special purpose acquisition corporation that re-domesticated to Delaware in connection with the business combination. ATAK was formed as a blank-check company with the purpose of entering into a merger with a high-growth technology company, which preferably is founded by Asian or Asian-American entrepreneurs who are building a global enterprise supported by forward-thinking visions and innovative frontier technologies. ATAK website: https://www.auroraspac.com/ Caution Regarding Forward-Looking Statements This press release contains certain statements which are not historical facts, which are forward-looking statements within the meaning of the federal securities laws, for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These forward-looking statements include certain statements made with respect to the Business Combination, including the benefits of the Business Combination, the services offered by DIH and the markets in which it operates, and DIH’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions provided for illustrative purposes only, and projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the actual results to differ materially from the expected results. These risks and uncertainties include, but are not limited to: general economic, political and business conditions; failure to realize the anticipated benefits of the business combination; the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; the ability of the combined company to grow and manage growth profitably and retain its key employees; the inability to maintain the listing of DIH’s securities on Nasdaq following the proposed business combination; costs related to the business combination; and those factors discussed in ATAK’s final prospectus/proxy statement, dated November 14, 2023, and filed with the SEC on November 15, 2023 and, in subsequent filings and reports made with the SEC, from time to time. While ATAK may elect to update these forward-looking statements at some point in the future, ATAK specifically disclaims any obligation to do so. Investor Contact: Greg Chodaczek 
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