Md. health company plans major expansion after $320M SPAC deal

A Columbia alternative medicine company is going public through a merger with a special purpose acquisition company (SPAC) in a deal that could be worth up to $320 million. Nava Health announced an agreement on Tuesday to be acquired by blank-check company 99 Acquisition Group Inc., which is based in Gaithersburg and exists to purchase firms that are looking to go public. As part of the agreement, 99 Acquisition (NASDAQ: NNAG) will be renamed Nava Health and expects to remain listed on the Nasdaq. The two firms expect to close the deal in the second quarter.