Hudson Executive Investment announced today that its stockholders approved the business combination with Talkspace. Approximately 95 percent of the votes cast were in favor of the deal, which values the new company at an initial enterprise value of $1.4 billion. An 8-K filing with full voting results is expected later today.
Talkspace is a digital and virtual therapy healthcare company.
Announced in January, the merger will be funded with the SPAC’s $414 million of cash in trust (assuming no redemptions), a $25 million forward purchase from Hudson Executive Capital and an additional $25 million committed by Hudson Executive Capital to backstop any redemptions. The transaction is further supported by an oversubscribed $300 million fully committed PIPE at $10 per share.
The deal is expected to close June 22. Talkspace stock and warrants are expected to begin trading on the Nasdaq on June 23 under TALK and TALKW. Read more.
