Cano Health, a value-based care delivery platform for seniors, and Jaws Acquisition announced today they have entered into a definitive merger agreement. Pending shareholder approval, the combined company will trade on the NYSE under “CANO.”
The transaction values Cano Health at an enterprise value of $4.4 billion and is expected to provide up to $1.49 billion in cash proceeds, including a fully committed PIPE of $800 million.
The PIPE includes $50 million from Barry Sternlicht, Chairman of Jaws, as well as commitments from funds affiliated with Fidelity Management & Research Company, funds and accounts managed by BlackRock, Third Point and Maverick Capital. Read more.
