On September 22, 2022, VM Hotel Acquisition Corp. (VMH), a special purpose acquisition company, has announced a business combination agreement to acquire all shares of The Pyure Company Inc. ("Pyure"). The acquisition will value Pyure at approximately $342.32 million (US$250 million), introducing it as a publicly-listed company. In return, around 25,000,000 VMH common shares will be issued to Pyure's existing shareholders. Based in Boynton Beach, Florida, Pyure manufactures hydroxyl air purification technology, replicating sunlight's natural sanitizing effect indoors. Pyure's technology contrasts with conventional purification options, which often have energy and cost inefficiencies. With the heightened focus on Indoor Air Quality (IAQ) due to the Covid-19 pandemic, and a global demand expected to reach USD$22.8 billion in 2028, VMH recognizes a significant opportunity for Pyure's technology in the market. Additionally, Pyure is enhancing its business model by offering IAQ as a service and building an extensive cloud-based air quality database via its IoT platform. Partnering with Rockwell Automation and PTC Inc., Pyure's products now feature real-time monitoring and advanced automation capabilities. While its primary focus remains in the U.S. and Canada, Pyure plans to expand in Europe and beyond. The Qualifying Acquisition requires Pyure to secure at least USD$15 million in financing before finalization. Closing is expected in the fourth quarter of 2022. Legal advisors for VMH are Goodmans LLP and Hodgson Russ LLP, with Echelon Wealth Partners acting as financial advisors.