Full Press Release Details
OneMedNet Announces Filing
of Registration Statement on Form S-4 in Connection with its Proposed Business Combination with Data Knights Acquisition Corp.
advancement in the business combination process; transaction remains on schedule to be completed during the second half of 2022
Includes OneMedNet's
latest quarterly results for the first quarter of 2022, reflecting continued strong business performance
Minneapolis, MN and London, UK - July
22, 2022 - OneMedNet Corporation, the leading curator of regulatory-grade Imaging Real Word Data ("iRWDTM")
and Data Knights Acquisition Corp. ("Data Knights") (Nasdaq: DKDCA, DKDCW), a publicly-traded special purpose acquisition
company, today announced the filing of a registration statement on Form S-4 (the "Registration Statement"), with the U.S.
Securities and Exchange Commission (SEC).
The Registration Statement contains a preliminary
proxy statement and prospectus, in connection with OneMedNet's previously announced proposed business combination with Data Knights.
While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides
important information about OneMedNet and the proposed business combination with Data Knights.
25, 2022, Data Knights entered into a merger agreement with OneMedNet. The merger is expected
be completed in the second half of 2022, subject to approval by Data Knights' shareholders,
the Registration Statement being declared effective by the SEC, and other customary closing conditions and is expected to trade
on the under the symbol "ONMD." The transaction values OneMedNet at a pro forma enterprise value of $317 million.
in the Registration Statement are OneMedNet's financial results for the first quarter of 2022. For the period, OneMedNet generated $233,966 of
net sales, an increase of 34% compared to the first quarter of 2021. OneMedNet 's full financial results and related disclosures can be
found in the Registration Statement, which we encourage you to read. Included in the Registration Statement are OneMedNet's financial
results for the first quarter of 2022.
provides innovative solutions regarding the clinical image archives of healthcare providers. It securely de-identifies, searches,
and curates a data archive locally, bringing a wealth of internal and third-party research opportunities to providers and regulators.
FDA uses RWD and RWE to monitor post-market safety and adverse events and to make regulatory decisions. By leveraging this extensive federated
provider network, together with industry leading technology and in-house clinical expertise, OneMedNet successfully meets the most rigorous
Real World Data Life Science requirements.
Additional Information and Where to Find it
release relates to a proposed transaction between Data Knights and OneMedNet.
In connection with the proposed transaction, Data Knights filed a Registration Statement on Form S-4 with the SEC, which is subject to
change, and which includes a proxy statement of Data Knights in connection with Data Knight's solicitation of proxies for vote by
Data Knight's shareholders with respect to the proposed transaction and a prospectus of Data Knights relating to the issuance of
Data Knights' securities to the stockholders of OneMedNet. Data Knights may also file other documents regarding the proposed transaction
This communication does not contain all the information
that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any
other decision in respect of the proposed transaction. Before making any voting or investment decision, investors and security holders
are urged to read the registration statement and the proxy statement/prospectus, each which have not yet become effective and the information
contained therein is subject to change, together with all other relevant documents filed or that will be filed with the SEC in connection
with the proposed transaction as they become available because they will contain important information about the proposed transaction.
and security holders are able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant
documents filed or that will be filed with the SEC by Data Knights through the website maintained
by the SEC at www.sec.gov.
Investors and security holders will be able to
obtain free copies of the registration statement proxy statement/prospectus and all other relevant documents filed or that will be filed
with the SEC by Data Knights and OneMedNet through the website maintained by the SEC at www.sec.gov or by directing a request to: Trident
Court, 1 Oakcroft Road, Chessington, Surrey KT9 1BD, United Kingdom.
THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED
UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE
IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.
About OneMedNet Corporation
Founded in 2009, OneMedNet unlocks the significant
value contained within the clinical image archives of healthcare providers by transforming Real-World
Data into a valuable, quality asset that can help clinicians improve care and lower costs. Employing its proven OneMedNet iRWD
solution, OneMedNet securely de-identifies, searches, and curates a data archive locally, bringing a wealth of internal and third-party
research opportunities to providers. By leveraging this extensive federated provider network, together with industry leading technology
and in-house clinical expertise, OneMedNet successfully meets the most rigorous Real-World Data Life Science requirements. OneMedNet is
led by its Chief Executive Officer, Paul Casey and Chief Medical Officer, Dr. Jeffrey Yu.
About Data Knights Acquisition Corp.
Data Knights Acquisition Corp. is a blank check
company formed for the purposes of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar
business combination with one or more tech or software businesses or entities. Data Knights is led
by its Chief Executive Officer, Barry Anderson, and its Founder and Chief Financial Officer, Firdauz Edmin Bin Mokhtar.
Participants in the Solicitation
OneMedNet, Data Knights
and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed
to be participants in the solicitation of proxies from Data Knights' shareholders in connection with the proposed transaction. A
list of the names of such persons and information regarding their interests in the proposed business combination are contained in the
definitive proxy statement/prospectus. You may obtain free copies of these documents free of charge by directing a written request to
Data Knights or OneMedNet. You can find more information about Data Knights'
directors and executive officers in Data Knights' final prospectus dated May 6, 2021, and filed with the SEC on May 10, 2021. The
definitive proxy statement will be transmitted to Data Knights' shareholders as of a record date to be established for voting on
the proposed business combination when it becomes available. Shareholders, potential investors, and other interested persons should read
the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free
copies of these documents from the sources indicated above.
This press release relates to a proposed business
combination between OneMedNet and Data Knights Acquisition Corp and is not intended and does not constitute a proxy statement or solicitation
of a proxy and does not constitute an offer to sell or a solicitation of an offer to buy the securities of Data Knights Acquisition Corp.
or OneMedNet, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale
would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No
offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities
Act or an exemption therefrom.
Cautionary Statement Regarding Forward-Looking
Certain statements contained in this press release
constitute "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements may include,
but are not limited to, statements with respect to (i) trends in the real world medical data industry, including changes in U.S. and state
laws, regulations and guidance related to OneMedNet's products and services; (ii) OneMedNet's growth prospects and OneMedNet's
market size; (iii) OneMedNet projected financial and operational performance including relative to its competitors; (iv) new product and
service offerings OneMedNet may introduce in the future; (v) the potential transaction, including the implied enterprise value, the expected
post-closing ownership structure and the likelihood and ability of the parties to consummate the potential transaction successfully; (vi)
the risk the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of
Data Knights' securities; (vii) the failure to satisfy the conditions to the consummation of the proposed business combination,
including the approval of the proposed business combination by the stockholders of Data Knights Acquisition Corp.; (viii) the effect of
the announcement or pendency of the proposed business combination on Data Knights' or OneMedNet's business relationships,
performance and business generally; (ix) the outcome of any legal proceedings that be instituted against Data Knights or OneMedNet related
to the proposed business combination or any agreement related thereto; (x) the ability to maintain the listing of Data Knights on Nasdaq;
(xi) the price of Data Knights' securities, including volatility resulting from changes in the competitive and regulated industry
in which OneMedNet operates, variations in performance across competitors, changes in laws and regulations affecting OneMedNet's
business and changes in the combined capital structure; (xii) the ability to implement business pans, forecasts, and other expectations
after the completion of the proposed business combination and identify and realize additional opportunities; and (xiii) other statements
regarding Data Knights' or OneMedNet's expectations, hopes, beliefs, intentions and strategies regarding the future.