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Sharecare goes public after completing $571m merger with Falcon Capital

By Monte Stewart

23:49, 1 July 2021

Sharecare is launching on Nasdaq following merger

Digital healthcare firm Sharecare will begin trading on the Nasdaq on Friday (2 July) after completing a merger Thursday (1 July) with Falcon Capital Acquisition (FCAC).

Under the terms of the deal, Sharecare receives $571m in gross proceeds intended for investment in future growth. Based in Atlanta, Sharecare operates a digital platform that enables people to connect with doctors, insurance companies, and employer benefits providers with an all-in-one app.

The company’s management team will remain in place. Reports have pegged the value of the combined company at $3.9bn.

Cash infusion 

Jeff Arnold, founder and CEO of Sharecare, said in a news release that the cash infusion will fund continued growth through product development, further commercialisation, and mergers and acquisitions.

“We look forward to this next phase as a public company and are laser-focused on simplifying the overall health experience, improving outcomes, and reducing cost on behalf of individuals, communities, and organisations everywhere,” he added.


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Sharecare will trade under the ticker symbol SHCR. Proceeds of the merger include private-investment-in-public-equity investments (PIPEs) from funds managed by Koch Strategic Platforms, Baron Capital Group, Eldridge, Woodline Partners LP and Digital Alpha.

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Direct investment

Anthem, an Indianapolis-based insurance major, previously made a direct investment of an undisclosed amount in Sharecare, and the companies are partnering “to build  affordable, high-quality, whole-health advocacy solutions.”

FCAC is a special purpose acquisition company (SPAC) headed by Alan Mnuchin, the brother of former US Treasury Secretary Steve Mnuchin. Alan Mnuchin previously served as a vice president of Goldman Sachs and founded New York-based investment bank AGM Partners.

In conjunction with the merger, FCAC is slated to be delisted from the Nasdaq on Friday.

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