Palihapitiya-backed Akili soars after de-SPAC

Akili

22/08/2022 14:50

(Updates stock activity)
    ** Shares of digital medicine co Akili Inc  AKLI.O  last up
122.3% at $31.27 on Mon after SPAC merger
    ** Stock opens at $36.06 and halted for volatility
    ** Akili closed business combination with Chamath
Palihapitiya's blank-check firm on Fri  urn:newsml:reuters.com:*:nBw2Pmq6Da
    ** The $1 bln deal announced in Jan was to provide up to
~$400 mln in proceeds to help Akili commercially launch its U.S.
FDA-approved videogame, EndeavorRx, to treat attention-deficit
disorders  urn:newsml:reuters.com:*:nL4N2U62F0
    ** Palihapitiya, at center of SPAC deal-making in recent
years, to become Akili's chair
    ** According to Aug 19 filing https://www.sec.gov/ix?doc=/Archives/edgar/data/1850266/000119312522225468/d191816d8k.htm,
 about 98% of SPAC Social Capital Suvretta Holdings Corp I
redeemed their shares
    ** The SPAC's shares ("DNAA") closed at $14.07 on Fri
    ** DNAA among top trending tickers on retail-investor social
media forum Stocktwits.com https://stocktwits.com/rankings

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))