Chinese medtech Baird Medical to go public through SPAC merger (XFIN)

Chinese medtech Baird Medical (BDMD) plans to go public through a merger with SPAC ExcelFin Acquisition Corp. (NASDAQ:XFIN).

The deal pegs the enterprise value of the combined company at $370M, with shares expected to trade on Nasdaq under the symbol BDMD.

Headquartered in Guangzhou, Baird is a leading developer and provider of microwave ablation devices in China. The company is expected to report 2023 net income of $18M on revenue of $45M. For 2022, Baird reported revenue of $35M, according to the companies.

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