HealthCor Catalio Acquisition shareholders voted in favor of merging with medtech companies Hyperfine and Liminal Sciences, although redemptions erased 83% of the SPAC’s trust account.
Redemptions came to $171.4 million, according to the SPAC’s 8-K filing. When the deal was announced in July, the SPAC had about $207 million in trust. HealthCor Catalio’s $126 million PIPE is still sufficient to satisfy the $125 million minimum cash closing condition.
Hyperfine created the first FDA-cleared portable MRI, and Liminal Sciences is a medical device development company. Read more.
