Falcon Capital Acquisition’s registration statement for its proposed business combination with health and wellness company Sharecare has been declared effective by the SEC.
The SPAC set a June 29 meeting for shareholders to vote on the deal, which has an enterprise value of $3.9 billion.
Announced in February, 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.
