Akili Interactive, maker of a video game-based digital therapeutic for treating pediatric ADHD, announced Wednesday it plans to go public through a merger with special-purpose acquisition company Social Capital Suvretta Holdings Corp. I.
The deal is expected to net the digital therapeutics startup up to $412 million in gross cash proceeds, valuing the combined company at about $1 billion. The...
Prescription digital therapeutics company Pear Therapeutics began trading on Nasdaq Monday after wrapping up its merger with special-purpose acquisition company Thimble Point Acquisition Corp. last week.
The business combination brought in about $175 million, which the company said will be used to capitalize its digital therapeutic products. It's trading under the ticker symbol PEAR.
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Digital prescription therapeutic company Pear Therapeutics announced Monday it had secured up to $50 million in additional capital from an affiliate of Thimble Point Acquisition Corp., the special purpose acquisition company it plans to merge with in order to trade publicly.
The new investment is adding to the $23 million Thimble Point’s sponsor already committed as part of the private investment...
Science 37, a decentralized clinical trial operating system developer, has shared it's going public through a merger with special purpose acquisition company LifeSci Acquisition II Corp.
Upon completion of the deal, which is expected to close in the third quarter of 2021, the combined company will operate as Science 37 and will trade on the NASDAQ under the ticker symbol “SNCE.” Science 37 will...
Special purpose acquisition companies, or SPACs, have taken the digital health market by storm over the past year and a half. Already in 2021 there have been more completed or announced public exits by digital health companies than for the entirety of 2020. What’s more, over 80% of them have been through SPAC mergers, according to a new Rock Health report.
For those not already on the SPAC...
The 2020s are on course to become the decade of the special purpose acquisition companies (SPACs), also known as "blank check" or "shell" companies. SPACs are set to outpace IPOs once again in 2021, after a record year that saw SPACs mature from a once obscure method of going public to a rabid, flavor-of-the-month frenzy amidst both institutional and retail investors.
The year of COVID-19 saw 227...
Editor's note: This article has been updated with original quotes from the heads of Owlet Baby Care and Sandbridge Acquisition.
Owlet Baby Care, the maker of connected infant-monitoring products targeted at consumers, today announced its plans to merge with Sandbridge Acquisition Corporation, a special purpose acquisition company (SPAC) backed by Sandbridge Capital and PIMCO private funds, and to...
Consumer genomics platform 23andMe is on its way to becoming a publicly-traded company through its merger with VG Acquisition Corp., a special purpose acquisition company sponsored by Virgin Group.
The two companies announced today they have entered into a definitive merger agreement that is expected to close in the second quarter of this year. Once completed, the combined companies’ stock will...
The back half of November saw two special purpose acquisition companies (SPACs) announce merger agreements valued at more than $1 billion.
First on the list is Butterfly Network, maker of the Butterfly iQ handheld ultrasound devices and a corresponding workflow platform. The well-funded startup will be merging with Longview Acquisition for a final valuation of $1.5 billion. The company's common...
Clover Health, an insurtech company for Medicare Advantage plans, will become publicly traded through a merger with special purpose acquisition company (SPAC) Social Capital Hedosophia Holdings Corp. III.
The two companies will combine through a mix of cash financing and stock, according to the announcement. The deal rates Clover at an enterprise value of about $3.7 billion and is expected to...
