Aurora Technology Acquisition Corp. and DIH Technology Ltd. announce a letter of intent for a business combination

DIH is a world chief in robotic and digital reality-based rehabilitation expertise

SAN FRANCISCO Y NORWELL, Mass., December 12, 2022 /PRNewswire/ — Aurora Know-how Acquisition Corp. (NASDAQ: ATAK) (“ATAK”), a publicly traded Particular Function Acquisition Firm (“SPAC”) and DIH Know-how Ltd. (“DIH”), a publicly traded A world chief in robotics and supplier of digital actuality (“VR”) expertise to the human efficiency and rehabilitation {industry}, immediately introduced the signing of a non-binding letter of intent (“LOI”) for a possible enterprise mixture.

Underneath the phrases of the LOI, ATAK and DIH would develop into a mixed entity, with DIH shareholders transferring 100% of their capital to the mixed public firm. ATAK and DIH anticipate to announce extra particulars on the enterprise mixture when a definitive settlement is executed, which is predicted sooner. January 31, 2023.

Because the world chief within the improvement and commercialization of robotics for rehabilitation and superior motion platform based mostly on digital actuality for human efficiency, DIH owns industry-leading manufacturers akin to HOCOMA and Motek, with greater than 4,500 robots and superior motion programs based mostly on ​in VR put in in 70 international locations DIH’s most important shoppers embody superior analysis facilities, progressive rehabilitation hospitals and world-class healthcare clinics.

“We’re very impressed by each the entrepreneurial spirit that drives ATAK’s administration crew and its various and revered board members and advisors. We imagine that the mix with ATAK will facilitate our launch as a public firm with robust company governance, broaden our capital market experience and improve our strategic funding capabilities, together with mergers and acquisitions, all of that are crucial to DIH’s development technique as a transformative and progressive complete answer supplier and consolidator within the IT {industry}. extremely fragmented rehabilitation”. mentioned jason chenGovernment Director and Chairman of the Board of DIH.

zachary wangATAK’s CEO and Chairman of the Board, commented: “DIH is an effective match for our goal acquisition profile as a multinational supplier of sensible expertise within the human efficiency and rehabilitation {industry}. Based by Asian-American entrepreneurs with greater than 20 years of of expertise managing international healthcare operations, the corporate has a powerful tenured administration crew We see DIH as an thrilling alternative for development, with its proprietary expertise, scalable enterprise mannequin and skilled management crew positioning it to broaden its international market share and proceed to drive industry-leading improvements for the advantage of sufferers. We imagine the merger and entry to public markets will permit the corporate to proceed to scale its international platform and fulfill its development potential.”

About Aurora Know-how Acquisition Corp. (NASDAQ: ATAK)

Aurora Know-how Acquisition Corp. is a Cayman Islands-exempt, San Franciscoparticular function acquisition company. ATAK’s securities are listed on the NASDAQ, with $202 million money in belief raised by its preliminary public providing. As a clean verify firm, ATAK was shaped for the aim of merging with a high-growth expertise firm, ideally based by Asian or Asian-American entrepreneurs who’re constructing a worldwide firm backed by forward-thinking, visionary visions. progressive. frontier applied sciences. ATAK seeks to determine compelling alternatives the place an alignment of its working experience, funding expertise and a worldwide community can speed up the expansion of the corporate for multinational growth.

ATAK web site: https://www.auroraspac.com/

Contact:
zachary wang
CEO and Chairman of the Board
zachary@auroraspac.com

About DIH Know-how, Ltd.

IHL represents the imaginative and prescient of “Present inspiration and well being” to enhance the functioning of thousands and thousands of individuals with disabilities and purposeful impairments. DIH is a worldwide options supplier that mixes progressive robotics and digital actuality applied sciences with medical integration and insights. Constructed by mergers of main area of interest expertise suppliers on the earth as HOCOMA, a Swissworld chief in robotics for rehabilitation, and MOTEK- a NetherlandsA world chief in a complicated VR-enabled movement platform powered by real-time integration, DIH is positioning itself as a supplier and consolidator of transformative complete sensible options in a largely fragmented and guide labor-driven {industry}.

IHL web site: https://www.dih.com/

Contact:
jason chen
CEO and Chairman of the Board
jason.chen@DIH.com

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SOURCE Aurora Know-how Acquisition Corp.; DIH Know-how Ltd.

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