CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 87.41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Scan to Download iOS&Android APP

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

By Monte Stewart

23:49, 1 July 2021

Share this article

Subscribe to Weekly Highlights

The major market events for the week ahead right in your inbox. Subscribe
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.

US100

11,963.60 Price
-0.470% 1D Chg, %
Long position overnight fee -0.0166%
Short position overnight fee 0.0060%
Overnight fee time 22:00 (UTC)
Spread 3.3

US30

34,355.00 Price
-0.040% 1D Chg, %
Long position overnight fee -0.0165%
Short position overnight fee 0.0059%
Overnight fee time 22:00 (UTC)
Spread 11

DE40

14,529.80 Price
+0.300% 1D Chg, %
Long position overnight fee -0.0086%
Short position overnight fee 0.0004%
Overnight fee time 22:00 (UTC)
Spread 3.0

HK50

19,100.50 Price
+1.440% 1D Chg, %
Long position overnight fee -0.0295%
Short position overnight fee -0.0149%
Overnight fee time 22:00 (UTC)
Spread 30.5

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.

What is your sentiment on US500?

4062.8
Bullish
or
Bearish
Vote to see Traders sentiment!

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.

Trade USA 500 – US500 CFD

1m
5m
15m
30m
1H
4H
1D
1W

Read more: S&P 500 closes at record high for fifth straight session

Rate this article

Share this article

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Latest Stocks news

Still looking for a broker you can trust?

Join the 475.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading