MDH - MDH STOCK NEWS

MDH Acquisition Corp. has provided clear instructions for Public Stockholders on exercising their redemption rights for Class A common stock before the special meeting scheduled for December 29, 2022. This meeting will discuss a proposed amendment to the Charter to change the deadline for ceasing operations if a business combination isn't completed. If approved, stockholders can request their shares be redeemed for cash prior to December 31, 2022. Mandatory redemption will occur if the charter amendment is approved, ensuring all remaining Public Shares are redeemed after the deadline.

MDH Acquisition Corp. (NYSE: MDH) has filed a definitive proxy statement for a special meeting to approve amendments regarding the redemption of its Class A common stock. The proposed changes would allow the company to redeem all outstanding shares in advance of February 4, 2023, due to the inability to complete a Business Combination. This decision follows a thorough evaluation of over 100 potential business partners, ultimately prioritizing shareholder value. The virtual meeting is scheduled for December 29, 2022, where stockholders will vote on these Proposals.

MDH Acquisition Corp. (NYSE: MDH) has announced the immediate termination of its planned merger with Olive Ventures Holdings, Inc. Following mutual agreement, both parties recognize this decision as the best long-term strategy. MDH's Executive Chairman, Franklin McLarty, expressed admiration for Olive's growth in the vehicle protection sector. Olive's CEO, Rebecca Howard, reiterated their commitment to strategic growth plans. More details regarding the termination will be filed in a Current Report on Form 8-K with the SEC.

olive.com has renewed its partnership with the Anaheim Ducks NHL team and Honda Center, becoming the official vehicle mechanical breakdown coverage provider. Starting the 2021-22 season, olive.com will have its logo displayed in Honda Center, ads, and promotional events. For every overtime in home games, olive.com will donate to the Anaheim Ducks Foundation. This partnership also includes a collaboration with Bally Sports Network to enhance visibility among fans. Additionally, fans can win $250 gift cards during overtime opportunities.

olive.com is expanding its mechanical breakdown coverage services to Washington, enhancing access to vehicle protection plans for consumers. These plans cover mechanical failures post manufacturer warranty and can be purchased entirely online. The company aims to address a significant market need, as studies indicate that 33% of car owners struggle to afford essential repairs. The average owner now keeps their car for 7 years, with annual repair costs averaging $1,200. This expansion taps into a potential market size of $260 billion.

MDH Acquisition Corp. (NYSE: MDH) announced the filing of Amendment No. 2 to its registration statement on Form S-4 with the SEC, detailing the proposed business combination with OP Group Holdings, LLC and Olive Ventures Holdings, Inc.. This transaction aims to transition Olive into a public company, trading under the symbol OLV. The filing includes the Q3 results of olive.com and outlines the company’s strategic acquisition efforts. Approval from MDH shareholders is required for completion. Further details can be found on the SEC's website.

PayLink Direct and Olive.com have announced a business combination with MDH Acquisition Corp (NYSE: MDH), aiming for a public listing under the name Olive Ventures Holdings, Inc. at a pro forma enterprise value of approximately $960 million. The merger is expected to generate over 850,000 new customers by 2023 and enhance Olive.com's digital vehicle protection plan offerings. Key stakeholders, including Fortress Investment Group and Ally Financial, show strong support, indicating significant growth potential in the $260 billion vehicle protection market.

MDH Acquisition Corp. (NYSE: MDH) received a notice from the NYSE for failing to file its Q1 2021 Report on time due to reevaluation of its warrant accounting treatment. The company has six months from May 24, 2021, to file the report, with the possibility of a six-month extension if needed. The company acknowledged that the warrants should be classified as liabilities and is diligently working to complete the filing. Failure to comply could result in delisting proceedings from the NYSE.

MDH Acquisition Corp. announced that holders of units from its IPO can trade shares of Class A common stock and warrants separately starting March 25, 2021. The IPO comprised 27,600,000 units at $10.00 each, with 3,600,000 units sold due to an underwriters’ over-allotment. Units will continue trading under the symbol 'MDH.U', while Class A common stock and warrants will trade under 'MDH' and 'MDH.WS', respectively. Shareholders must contact Continental Stock Transfer & Trust Company to separate the units. The offering's prospectus is available through Stifel and Oppenheimer.