Chamath Palihapitiya’s Social Capital Suvretta Holdings I today filed a Form S-4 outlining its proposed merger with Akili Interactive, a digital medicine company developing cognitive treatments.
Pending shareholder approval, the transaction is expected to close in mid-2022, after which Akili would be listed on the Nasdaq under the new ticker symbol AKLI.
As announced last month, the transaction implies a post-money equity value of the combined company of up to approximately $1 billion and is expected to deliver up to $412 million in gross cash proceeds to Akili, including up to $250 million of cash held in SCS’s trust account and $162 million from PIPE investors. Read more.
