FORT
MILL, S.C., Sept. 5,
2024 /PRNewswire/ -- Betters Medical Investment
Holdings Limited ("Baird Medical" or the "Company"), a leading
microwave ablation ("MWA") medical device developer and provider in
China, and ExcelFin Acquisition
Corp. ("ExcelFin") (NASDAQ: XFIN), a publicly traded special
purpose acquisition company, today announced that Baird Medical
Investment Holdings Limited's ("PubCo") registration statement on
Form F-4 (the "Registration Statement") related to their previously
announced proposed business combination (the "Business
Combination") has been declared effective by the U.S. Securities
and Exchange Commission (the "SEC").
The declaration of effectiveness of the Registration Statement
by the SEC and ExcelFin's filing of the definitive proxy
statement/prospectus is an important step in Baird
Medical becoming a publicly-traded company listed on the
Nasdaq upon the close of the Business Combination.
ExcelFin has scheduled the Special Meeting of Stockholders (the
"Special Meeting") to approve the proposed business combination
with Baird Medical to be held on September 26, 2024.
The Business Combination is expected to close shortly after
approval by ExcelFin's stockholders and the satisfaction of other
customary closing conditions as described in the definitive proxy
statement/prospectus.
A copy of the definitive proxy statement/prospectus can be
accessed via the SEC website at www.sec.gov.
Additional Information and Where to Find It
On June 26, 2023, ExcelFin,
Betters Medical, PubCo, Betters Medical Merger Sub, Inc., Betters
Medical Merger Sub 2, Inc., Betters Medical NewCo, LLC and Tycoon
Choice Global Limited ("Tycoon"), entered into a Business
Combination Agreement as amended from time to time (the "Business
Combination Agreement"). In connection with the transactions
contemplated by the Business Combination Agreement (the
"Transactions"), PubCo has filed with the SEC the Registration
Statement (Registration No. 333-274114). The Registration Statement
includes both the proxy statement to be distributed to ExcelFin's
stockholders in connection with ExcelFin's solicitation of proxies
for the vote by ExcelFin's stockholders with respect to the
Business Combination and other matters as described in the
Registration Statement, as well as the prospectus relating to the
offer and sale of the securities of PubCo to be issued in
connection with the Business Combination. STOCKHOLDERS OF EXCELFIN
ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ANY
AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER RELEVANT DOCUMENTS IN
CONNECTION WITH THE PROPOSED TRANSACTIONS THAT PUBCO AND EXCELFIN
WILL FILE OR HAVE FILED WITH THE SEC CAREFULLY AND IN THEIR
ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED TRANSACTIONS AND THE PARTIES TO THE PROPOSED TRANSACTIONS.
Stockholders and investors may obtain free copies of the proxy
statement/prospectus and other relevant materials and other
documents filed by PubCo and ExcelFin at the SEC's website at
www.sec.gov. Copies of the proxy statement/prospectus may also be
obtained, without charge, on ExcelFin's website at
www.excelfinacquisitioncorp.com or by directing a request to:
ExcelFin Acquisition Corp., 100 Kingsley Park Drive, Fort Mill, South Carolina 29715.
Participants in Solicitation
Each of PubCo, ExcelFin and Baird Medical and their respective
directors, executive officers and certain employees may be deemed,
under SEC rules, to be participants in the solicitation of proxies
in respect of the proposed Transactions. Information regarding the
directors and executive officers of PubCo, ExcelFin and Baird
Medical and the other participants in the proxy solicitation, and a
description of their direct and indirect interests in the proposed
Transactions, by security holdings or otherwise, is contained in
the Registration Statement and other relevant materials filed with
the SEC. These documents can be obtained free of charge from the
sources indicated above.
Non-Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed Transactions and shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
of ExcelFin, Baird Medical, PubCo, or Tycoon, nor shall there be
any sale of any such securities in any state or jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction. No offer of securities shall be made except
by means of a prospectus meeting the requirements of Section 10 of
the Securities Act.
About Baird Medical
Established in 2012 and headquartered in Guangzhou, China, Baird Medical is a leading
microwave ablation ("MWA") medical device manufacturer and provider
in China. Baird Medical's
proprietary medical devices are used for the treatment of benign
and malignant tumors including thyroid nodules, liver cancer, lung
cancer and breast lumps. Baird Medical is the first company to
obtain a Class III medical devices registration certificate for MWA
medical devices specifically indicated for thyroid nodules in
China. For more information,
please visit http://baidesz.com/.
About ExcelFin
ExcelFin is a blank check company formed as a Delaware corporation for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, reorganization, or similar business combination with one
or more businesses. ExcelFin's sponsors include Grand Fortune
Capital, LLC ("GFC") and Fin Venture Capital ("Fin"). GFC is an
affiliate of an investment group that completed a series of
significant M&A transactions and investments in FinTech,
Technology, Media, and Telecommunications ("TMT") and Healthcare.
Fin is a private equity firm focused on FinTech software.
Forward-Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events or ExcelFin's, Baird
Medical's, PubCo's or Tycoon's future financial or operating
performance. In some cases, you can identify forward-looking
statements by terminology such as "may", "could", "should",
"expect", "intend", "might", "will", "estimate", "anticipate",
"believe", "budget", "forecast", "intend", "plan", "potential",
"predict", "potential" or "continue", or the negatives of these
terms or variations of them or similar terminology. Forward-looking
statements are subject to risks, uncertainties, and other factors
which could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. These
forward-looking statements are based upon estimates and assumptions
that, while considered reasonable by ExcelFin and Baird Medical and
their management, are inherently uncertain. New risks and
uncertainties may emerge from time to time, and it is not possible
to predict all risks and uncertainties. You should not place undue
reliance on forward-looking statements in this press release, which
speak only as of the date they are made and are qualified in their
entirety by reference to the cautionary statements herein. None of
PubCo, ExcelFin, or Baird Medical undertakes any duty to update
these forward-looking statements.
Actual results may vary materially from those expressed or
implied by forward-looking statements based on a number of factors,
including, without limitation: (1) risks related to the
consummation of the proposed Transactions, including the risks that
(a) the proposed Transactions may not be consummated within the
anticipated time period, or at all; (b) ExcelFin may fail to obtain
stockholder approval of the proposed Business Combination; (c) the
Parties may fail to secure required regulatory approvals under
applicable laws; and (d) other conditions to the consummation of
the proposed Transactions under the Business Combination Agreement
may not be satisfied; (2) the effects that any termination of the
Business Combination Agreement may have on ExcelFin or Baird
Medical or their respective businesses, including the risk that
ExcelFin's share price may decline significantly if the proposed
Transactions are not completed; (3) the risk that Baird Medical may
not be successful in expanding its business in China or the United
States; (4) the effects that the announcement or pendency of the
proposed Transactions may have on Baird Medical and its business,
including the risk that as a result (a) ExcelFin's business,
operating results or stock price may suffer or (b) PubCo's,
ExcelFin's or Baird Medical's current plans and operations may be
disrupted; (5) the inability to recognize the anticipated benefits
of the proposed Transactions; (6) unexpected costs resulting from
the proposed Transactions; (7) changes in general economic
conditions; (8) regulatory conditions and developments; (9) changes
in applicable laws or regulations; (10) the nature, cost and
outcome of pending and future litigation and other legal
proceedings, including any such proceedings related to the proposed
Transactions and instituted against PubCo, ExcelFin, Baird Medical
or others; and (11) other risks and uncertainties from time to time
described in the Registration Statement relating to the proposed
Transactions, including those listed under the section titled "Risk
Factors" therein, and in ExcelFin's other filings with the SEC.
The foregoing list of factors is not exclusive. Additional
information concerning certain of these and other risk factors is
contained in ExcelFin's most recent filings with the SEC and in the
Registration Statement described above filed by PubCo in connection
with the proposed Transactions. All subsequent written and oral
forward-looking statements concerning ExcelFin, Baird Medical,
PubCo or Tycoon, the Transactions described herein or other matters
attributable to ExcelFin, Baird Medical, PubCo, Tycoon or any
person acting on their behalf are expressly qualified in their
entirety by the cautionary statements above. Readers are cautioned
not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. Each of ExcelFin, Baird
Medical, PubCo and Tycoon expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in their expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Contacts
Investor Relations
Robin Yang, Partner
ICR, LLC
Phone: +1 (646) 308-1475
Email: BairdMedical.IR@icrinc.com
Public Relations
Brad Burgess, Senior Vice
President
ICR, LLC
Phone: +1 (646) 588-0383
Email: BairdMedical.PR@icrinc.com
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SOURCE ExcelFin Acquisition Corp; Baird Medical