8i Acquisition 2 Corp.
LAX
NASDAQ Global Market5.21
USD
-0.09
- -
8i Acquisition 2 Corp.
LAX
(NASDAQ Global Market)
Recent
price
5.21
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Similar Companies
- Business
- 8i Acquisition 2 Corp. (NASDAQ: LAX) operates as a special purpose acquisition company with no significant independent operations; it focuses on effecting mergers, share exchanges, asset acquisitions, stock purchases, recapitalizations or similar business combinations, primarily targeting technology and healthcare companies in Asia. Incorporated in July 2020 and headquartered in Singapore at The Central, 6 Eu Tong Sen Street, the company raised $75 million in its initial public offering in November 2021, priced at $10 per unit, with full exercise of the underwriters' over-allotment option. It seeks high-growth businesses leveraging trends such as artificial intelligence, internet of things and mobile internet, particularly in sectors like digital health, augmented reality and virtual reality, with target enterprise value to EBITDA multiples between 6x and 8x. In November 2022, 8i Acquisition 2 Corp. completed its business combination with EUDA Health Limited, a Singapore-based digital health platform providing AI-driven healthcare analytics, personalized treatment protocols, and end-to-end care including wellness, urgent care, pre-existing conditions management and aftercare; the combined entity operates as EUDA Health Holdings Limited (NASDAQ: EUDA), led by EUDA's founder and CEO Dr. Kelvin Chen, with trading commencing under EUDA and EUDAW symbols. The transaction, valued at an enterprise value of approximately $583 million to $673 million, was a related-party deal involving Watermark Developments (sole shareholder of EUDA Health, with 8i CEO James Meng Dong Tan as a 10% shareholder), which rolled 100% of its equity into the combined company, retaining about 82% ownership on a pro forma basis assuming no redemptions. Prior merger discussions included a 2021 intent to acquire 8i Holdings Limited (virtual reality and augmented reality solutions), which completed but rebranded to 8I ticker; post-EUDA merger, the entity delisted LAX, shifting to EUDA Health's ecosystem serving patients, insurers and medical professionals across Southeast Asia and the Asia Pacific region.
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