Assure Holdings Corp. (NASDAQ: IONM) Settles Disputes with Danam Health in Recent Agreement

Assure Holdings Corp. (NASDAQ: IONM) recently entered into a Settlement and Mutual Release agreement with Assure Acquisition Corp. and Wellgistics Health, Inc., formerly known as Danam Health, as per a Form 8-K filed with the Securities and Exchange Commission on December 15, 2024.

The settlement follows from a prior Agreement and Plan of Merger between Assure, Merger Sub, and Danam that occurred in February 2024. A convertible promissory note of $1,000,000, termed the “Convertible Note,” was executed and delivered to Danam by the company in April 2024. Subsequently, in June 2024, Assure Holdings terminated the Merger Agreement, leading to disputes arising between the involved parties.

As part of the Settlement Agreement, Assure Holdings, Danam, and Merger Sub successfully resolved all disputes and mutually absolved each other from liabilities pertaining to the Transaction, Merger Agreement, and associated documents. Additionally, the Convertible Note was annulled, and the termination of the Merger Agreement was confirmed effective June 11, 2024. Notably, it was agreed that Assure is not obligated to pay Danam the $1,000,000 termination fee outlined in the Merger Agreement. The Settlement Agreement also solidifies that no outstanding amounts are owed by any party concerning the Transaction or the Merger Agreement.

The summary above outlines the key terms of the Settlement Agreement, which are further detailed in the full document attached as Exhibit 10.1 in the Form 8-K filing.

Moreover, in accordance with Item 1.02 of the filing, the cancellation of the Convertible Note is integrated within the termination details documented in Item 1.01.

The Form 8-K also mentions that Exhibit 10.1 encompasses the Settlement Agreement and Mutual Release, effective as of December 11, 2024, among Assure Holdings Corp., Merger Sub, and Danam. Additionally, an Interactive Data File has been included as Exhibit 104 in Inline XBRL format.

As per the Form 8-K filing signature, John Farlinger, the Chief Executive Officer of Assure Holdings Corp., signed off on the report on December 23, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Assure’s 8K filing here.

About Assure

Assure Holdings Corp., through its subsidiaries, provides technical and professional intraoperative neuromonitoring surgical support services in the United States. It offers services in the areas of neurosurgery, spine, cardiovascular, orthopedic, ear, nose, throat, and other surgical procedures. The company delivers various clinical and operational services, including scheduling of the interoperative neurophysiologist and supervising practitioner, real time monitoring, patient advocacy, and billing services to support surgeons and medical facilities during invasive procedures.