Aimei Health (AFJK) Is Trending: Shares Soar Over 1,000% Before Dropping In After-Hours Trading
Aimei Health Technology Co., Ltd (NASDAQ:AFJK) shares are trending on Wednesday.
Check out the current price of AFJK stock here.
Aimei Health shares soared 1,006.25% in regular session on Tuesday. However, the rally reversed in after-hours trading, with shares falling 46.89% to $47.
AFJK, a Special Purpose Acquisition Company (SPAC), is set to merge with United Hydrogen Group Inc., a Chinese hydrogen energy company.
SEC Filing Details Extension
Aimei Health Technology filed a Form 8-K current report with the Securities and Exchange Commission on Monday. A Form 8-K discloses major corporate events that shareholders need to be aware of.
The filing disclosed that $34,330.96 was deposited into the company’s trust account for public shareholders, extending the business combination termination date from Dec. 6 to Jan. 6, 2026.
This represents the thirteenth monthly extension permitted under the company’s Amended and Restated Articles of Association, an up-to-date document that incorporates all previous changes into the company’s original articles of association (AoA).
Promissory Note Issued
According to the SEC filing, the company issued an unsecured promissory note totaling $34,330.96 on Dec. 5 to two entities: Aimei Health Ltd., the company's sponsor, and United Hydrogen Group.
Both entities contributed $17,165.48 each to fund the extension payment.
The note bears no interest and becomes due upon consummation of the business combination with United Hydrogen.
The payees may convert the note into private units at $10 per unit, each consisting of one ordinary share and one right to receive one-fifth of one ordinary share.
The extension payment of $34,330.96 represents $0.033 per outstanding public share.
Trading Metrics
The stock of the New York-based company has risen 724.79% year to date and 884.43% over the past five days.
AFJK's stock has an annual range of $6.75 to $98.15, with a market capitalization of $541.77 million.
Price Action: According to Benzinga Pro data, Aimei Health shares closed on Tuesday at $88.5.
Benzinga's Edge Stock Rankings indicates AFJK stock has a negative price trend across all time frames. Here is how the stock fares on other parameters.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.