Digital health company Sharecare and Falcon Capital Acquisition announced today that they have entered into a definitive merger agreement.
Upon closing, the new company will be named Sharecare and list on the Nasdaq under SHCR. The combined company would have an initial enterprise value of $3.9 billion with approximately $400 million in growth capital on the balance sheet.
Terms call for investors led by Koch Strategic Platforms, Baron Capital Group, Eldridge, Woodline Partners, and strategic partner Digital Alpha to contribute to a $425 million PIPE, satisfying the minimum proceeds condition for closing. Healthcare giant Anthem will make a direct investment in Sharecare. Falcon Capital, led by CEO Alan Mnuchin, is expected to own approximately 20 percent of the new company inclusive of the PIPE investors.
In connection with the proposed transaction, at closing Sharecare and Falcon would donate over $4 million in the surviving company’s stock to Sharecare’s charitable foundation to support well-being initiatives. Read more.
