Robotics technology company Vicarious Surgical and D8 Holdings report they have secured $27 million in additional commitments for a PIPE in support of their business combination, bringing the aggregate PIPE commitments to $142 million.
Total anticipated gross proceeds for the deal are approximately $487 million (assuming no redemptions). The additional commitments ensure that D8 will satisfy the closing condition that D8 has at least $125 million of available cash from D8’s trust account and proceeds from the PIPE at the closing.
The total PIPE is funded by global medical technology company Becton, Dickinson and Company, hospital groups in the U.S. and Asia, and surgical robotics pioneer Roberta Lipson, founder of United Family Healthcare and its predecessor Chindex International, and CEO of New Frontier Health. Bill Gates, Vinod Khosla’s Khosla Ventures, Eric Schmidt’s Innovation Endeavors, Sun Hung Kai & Co. and Philip Liang’s E15 VC are also investing. Read more.
