Talkspace, a digital and virtual therapy healthcare company, and Hudson Executive Investment Corp. announced today that they have entered into a definitive merger agreement. The combined company will operate as Talkspace with plans to list on the Nasdaq under TALK. The transaction values Talkspace at an initial enterprise value of $1.4 billion and will provide the company with $250 million of cash to be used as growth capital.
The transaction will be funded with HEIC’s $414 million of cash in trust (assuming no redemptions), a $25 million forward purchase from Hudson Executive Capital and an additional $25 million committed by Hudson Executive Capital to backstop redemptions. The transaction is further supported by an oversubscribed $300 million fully committed PIPE at $10 per share. Read more.
