NEW YORK, Nov. 5, 2021 /PRNewswire/ -- DocGo, Inc.
(formerly Ambulnz, Inc.), a leading provider of Mobile Health
services and integrated medical mobility solutions, announced today
the completion of its previously announced business combination
with Motion Acquisition Corp. ("Motion") (Nasdaq: MOTN), a special
purpose acquisition company. Beginning on Monday, November 8, 2021, DocGo's common stock
and warrants will trade on Nasdaq under the ticker symbols "DCGO"
and "DCGOW", respectively.
"We are thrilled to announce the completion of our business
combination with Motion and advance to this next chapter as a
public company," said Stan
Vashovsky, CEO of DocGo. "Today represents a significant
milestone in our journey, and we are eager to use this additional
capital to fuel growth as we expand our geographic footprint in
Mobile Health services."
The business combination and associated PIPE investment enabled
DocGo to raise approximately $158
million in cash proceeds after the payment of transaction
expenses.
To celebrate the completion of the merger, DocGo's management
team will ring the closing bell at Nasdaq on November 11, 2021 at 4:00
pm ET. A live stream of the event and replay can be accessed
by visiting
https://livestream.com/accounts/27896496/events/9904173
Advisors
Barclays Capital acted as exclusive financial
advisor, lead capital markets advisor, and lead placement agent to
Motion. Deutsche Bank Securities acted as exclusive financial
advisor and capital markets advisor to DocGo as well as placement
agent to Motion. Canaccord Genuity also acted as a co-placement
agent to Motion. Stifel Nicholaus, Needham and Northland Securities
also served as capital markets advisors to Motion. In
addition, Graubard Miller served as legal advisor to Motion and
Gibson, Dunn & Crutcher LLP acted as legal advisor to
DocGo.
About DocGo
DocGo is a leading provider of last-mile
Mobile Health services and integrated medical mobility solutions.
DocGo is disrupting the traditional four-wall healthcare system by
providing care at the scale of humanity. DocGo's innovative
technology and dedicated field staff of certified health
professionals elevate the quality of patient care and drive
business efficiencies for facilities, hospital networks and health
insurance providers. With Mobile Health, DocGo empowers the full
promise and potential of telehealth by facilitating healthcare
treatment, in tandem with a remote physician, in the comfort of a
patient's home or workplace. Together with DocGo's integrated
Ambulnz medical transport services, DocGo is bridging the gap
between physical and virtual care. For more information, please
visit www.docgo.com.
Cautionary Statement Regarding Forward-Looking
Statements
This announcement contains forward-looking statements (including
within the meaning of Section 21E of the U.S. Securities Exchange
Act of 1934, as amended, and Section 27A of the U.S. Securities Act
of 1933, as amended) concerning DocGo. These statements may
include, but are not limited to, statements that address our
expected future business and financial performance and statements
about (i) our plans, objectives and intentions with respect to
future operations, services and products, (ii) our competitive
position and opportunities, and (iii) other statements identified
by words such as "may", "will", "expect", "intend", "plan",
"potential", "believe", "seek", "could", "estimate", "judgment",
"targeting", "should", "anticipate", "predict" "project", "aim",
"goal", "outlook", "guidance", and similar words, phrases or
expressions. These forward-looking statements are based on
management's current expectations and beliefs, as well as
assumptions made by, and information currently available to,
management, and current market trends and conditions.
Forward-looking statements inherently involve risks and
uncertainties, many of which are beyond our control, and which may
cause actual results to differ materially from those contained in
our forward-looking statements. Accordingly, you should not place
undue reliance on such statements. Particular uncertainties that
could materially affect current or future results include any risks
associated with global economic conditions and concerns; the
effects of global outbreaks of pandemics or contagious diseases or
fear of such outbreaks, such as the COVID-19 coronavirus pandemic;
competitive pressures; pricing declines; rates of growth in our
target markets; our ability to improve gross margins;
cost-containment measures; legislative and regulatory actions; the
impact of legal proceedings and compliance risks; the impact on our
business and reputation in the event of information technology
system failures, network disruptions, cyber-attacks, or losses or
unauthorized access to, or release of, confidential information;
the ability of the company to comply with laws and regulations
regarding data privacy and protection; and other risks detailed
from time to time in the company's public filings. We undertake no
intent or obligation to publicly update or revise any of these
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE DocGo