Digital Transformation Opportunities Rises 91%, SPAC Completes Business Combination Deal

Dow Jones2023-09-21

By Stephen Nakrosis

Shares of blank check company Digital Transformation Opportunities were trading higher on Nasdaq Wednesday, following news the company completed its business combination with American Oncology Network.

Shares of the combined company, American Oncology Network Inc., are expected to begin trading on Nasdaq Sept. 21 under the symbol AONC.

The companies announced their planned business combination in Oct. of last year.

Founded in 2018, American Oncology has grown to have more than 1,500 employees and over 200 providers serving over 450,000 patients.

At 2:53 p.m. ET, Digital Transformation shares were trading 91.2% higher, at $26.20. Volume at the time topped 3.3 million shares, above the stock's 65-day average volume of 24,769 shares.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 20, 2023 15:00 ET (19:00 GMT)

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