Falcon Capital Shareholders Approve $3.9B Sharecare Deal

Falcon Capital

Falcon Capital Acquisition shareholders voted to approve the business combination with Sharecare, a communication and health platform for patients, insurers and healthcare providers.

More than 97% of the votes cast were in favor of the deal, the SPAC said in a press release and 8-K filing

The deal 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.

Sharecare and Falcon have said after closing the transaction they will donate over $4 million in the surviving company’s stock to Sharecare’s charitable foundation to support well-being initiatives.

The deal is expected to close July 1. The new company expects that stock and warrants will begin trading July 2 on the Nasdaq under SHCR and SHCRW. Read more.

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