By Dean Seal
Avalon GloboCare has agreed to merge with the business automation company YOOV Group Holding.
The maker of precision diagnostic consumer products said Monday that it would combine with YOOV, known for its artificial-intelligence-as-a-service platform, to form YOOV Inc. and trade on the Nasdaq Capital Market with the ticker symbol YOOV.
Under the terms of the deal, Avalon shareholders would own about 2.2% to 2.5% of the combined company while YOOV's equityholders would own the rest.
Shares of Avalon jumped 23% to $8.92 in premarket trading.
The merger is expected to close in the third quarter.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 10, 2025 08:34 ET (12:34 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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