PLAINVIEW, NY – Vaso Corporation (OTCQX:VASO), a medical device company, disclosed unaudited pro forma financial information today, following its earlier announcement regarding a proposed business combination with Achari Ventures Holdings Corp. I and Achari Merger Sub, Inc. The pro forma financials are designed to give effect to the business combination as if it had taken place at the beginning of 2023.
This financial data combines historical financial results of Vaso and Achari and is intended to provide investors with a basis for evaluating the effect of the business combination.
According to the SEC filing, the pro forma financials are for informational purposes and do not necessarily reflect the actual results that would have been achieved had Vaso and Achari been a single company during the stated periods. They are also not intended to predict or project future results post-merger.
Vaso's move to release pro forma financials follows its filing of a Definitive Proxy Statement on August 7, 2024, which detailed the proposed business combination. Both Vaso and Achari have also recently filed their periodic reports on Form 10-Q, providing unaudited financial statements for the first half of 2024.
The release of the pro forma financials is part of the ongoing process to keep shareholders informed as Vaso and Achari work towards completing the proposed business combination. The transaction is subject to customary closing conditions, including regulatory approvals and approval by the shareholders of both companies.
This news comes as Vaso continues to operate in the electromedical and electrotherapeutic apparatus sector, with its headquarters located at 137 Commercial Street, Suite 200, Plainview, New York. The company has been incorporated in Delaware and has a fiscal year-end of December 31.
InvestingPro Insights
In light of Vaso Corporation's recent pro forma financial release and the ongoing business combination with Achari Ventures Holdings Corp. I, it's valuable to consider some key metrics and insights provided by InvestingPro. With a market capitalization of $44.37 million, Vaso is navigating its sector with certain financial strengths. Notably, the company is trading at a low revenue valuation multiple, which could indicate that its stock is undervalued relative to its revenue generation, according to an InvestingPro Tip. This is particularly relevant for investors assessing the company's valuation in the context of the proposed merger.
Additionally, Vaso's ability to remain profitable over the last twelve months, as highlighted by another InvestingPro Tip, suggests operational efficiency that could bode well for the merged entity's future performance. Investors should also be aware of the company's stock price volatility, which could impact short-term investment decisions. For those looking for more comprehensive analysis, InvestingPro offers a total of 6 tips for Vaso Corporation on their platform.
From a data standpoint, the company's P/E ratio stands at 18.07, which provides a lens into its earnings relative to its share price. The gross profit margin of 61.27% for the last twelve months as of Q2 2024 reflects a strong ability to control costs relative to revenue. Moreover, while the company does not pay a dividend, its strong return over the last five years may be an attractive feature for growth-focused investors. These data points and insights from InvestingPro could be instrumental in evaluating Vaso's financial health and future prospects, especially as the company embarks on its new chapter post-merger.
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