Brief: Akili Interactive To Become Publicly Traded Through Combination With Social Capital Suvretta Holdings Corp. I

Akili

26/01/2022 13:03

Jan 26 (Reuters) - Social Capital Suvretta Holdings Corp I
 DNAA.O :
    * AKILI INTERACTIVE, A LEADER IN DIGITAL MEDICINE, TO BECOME
PUBLICLY TRADED THROUGH COMBINATION WITH SOCIAL CAPITAL SUVRETTA
HOLDINGS CORP. I
    * SOCIAL CAPITAL SUVRETTA HOLDINGS CORP I - TRANSACTION
VALUES
COMBINED COMPANY AT AN EQUITY VALUE POST-MONEY OF UP TO
APPROXIMATELY $1 BILLION
    * SOCIAL CAPITAL SUVRETTA HOLDINGS CORP I - TRANSACTION
EXPECTED
TO PROVIDE UP TO $412 MILLION IN GROSS CASH PROCEEDS
    * SOCIAL CAPITAL SUVRETTA HOLDINGS CORP I - FULLY COMMITTED
PIPE
OF $162 MILLION LED BY $100 MILLION FROM SOCIAL CAPITAL,
REMAINING $62 MILLION FROM NEW & EXISTING INVESTORS
    * SOCIAL CAPITAL SUVRETTA HOLDINGS CORP I - CHAMATH
PALIHAPITIYA
EXPECTED TO BECOME CHAIR OF AKILI'S BOARD OF DIRECTORS UPON
TRANSACTION CLOSE
    * SOCIAL CAPITAL SUVRETTA HOLDINGS CORP I - POST DEAL CLOSE
AKILI
WILL BE LISTED ON NASDAQ STOCK MARKET UNDER NEW TICKER SYMBOL
"AKLI"
    * SOCIAL CAPITAL SUVRETTA HOLDINGS CORP I - EXISTING AKILI
SHAREHOLDERS WILL ROLL 100% OF THEIR EQUITY INTO COMBINED
COMPANY

Source text for Eikon:  ID:nBw1MPqQba 
Further company coverage:  DNAA.O 

 ((Reuters.Briefs@thomsonreuters.com;))