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July 8, 2021, 7:42 a.m. EDT

Israeli oncology treatment company Alpha Tau to go public by merging with SPAC Healthcare Capital in $1 billion deal

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By Ciara Linnane


Israeli oncology treatment company Alpha Tau said Thursday it is going public by merging with special purpose acquisition corporation Healthcare Capital Corp. /zigman2/quotes/225161362/composite HCCC +0.20% in a deal with a pro forma equity value of about $1 billion. Alpha Tau is expected to have up to $367 million in gross proceeds from the deal, dividend between the $275 million held in the SPAC's trust and a $92 million private investment in public equity, or PIPE, backed by investors including Yozma Investment Co. (part of Yozma Group Korea), Grand Decade Developments (an affiliate of China Grand Pharmaceutical and Healthcare Holdings), as well as other leading technology investors including OurCrowd, Regah Ventures and the co-founders of Apax Partners, Alan Patricof and Sir Ronald Cohen, the companies said in a joint statement. Proceeds will be used to pursue a Food and Drug Administration marketing authorization, for research and development, to expand manufacturing and provide cash runway at least into 2024. The deal is expected to close by year-end, after which Alpha Tau will be listed on Nasdaq.

US : U.S.: Nasdaq
$ 9.97
+0.02 +0.20%
Volume: 3.25M
Jan. 25, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$342.03 million
Rev. per Employee

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