SC Health Stockholders Approve Rockley Merger

SC Health

SC Health Corp. in an 8-K filing said its stockholders voted in favor of the proposed merger with Rockley Photonics, a global supplier of integrated silicon photonic chips and modules.

Although the filing did not mention redemptions, if any, the SPAC in April filed an amended 8-K noting that 46.23 percent of its ordinary shares were redeemed during a vote on extending the deadline to complete the Rockley merger. That left a balance in the SPAC’s trust account of approximately $94 million. The SPAC raised about $222.5 million in a July 2019 IPO and committed capital raise.

As announced in March, the deal gives the combined company a pro forma enterprise value of $1.2 billion. The transaction was expected to deliver up to $323 million of gross proceeds to the combined company. Read more.

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