Digital Health has mergers pending with VSee Lab, a telehealth software company, and iDoc Telehealth, a neurocritical care and intensive care telehealth provider. At deal announcement in June 2022, the transaction had a valuation of approximately $110 million for the combined entity.
The transaction is expected to deliver up to $540 million of gross proceeds, including up to $115 million of cash held in HighCape's trust account (assuming no redemptions). The transaction is supported by a $425 million PIPE at $10 per share.
The SPAC said it will focus on a business that can benefit from the management team’s operational and investing expertise in the IT Services and Business Process Outsourcing sectors.