Cloudbreak Health, a telehealth and video remote interpretation solutions provider, today announced that GigCapital2 raised $285 million from institutional investors for its business combinations with UpHealth Holdings and Cloudbreak.
The raise includes an aggregate of 3 million shares of GigCapital2 common stock at $10 per share and $255 million of 5-year unsecured convertible notes bearing 6.25 percent interest, and are convertible into common shares of the combined company, UpHealth at a conversion price of $11.50 each.
If approved by shareholders, the combination announced in November would create a digital healthcare company valued at $1.35 billion. Read more.
