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Pear Therapeutics Plans To Go Public In $1.6B SPAC Deal

  • The digital treatment developer Pear Therapeutics is taking the SPAC route to go public through a deal expected to provide about $400 million in new funding, representing a pro forma equity value of approximately $1.6 billion.
  • The proceeds include $125 million gathered from upsized private investment in public equity, plus $276 million held by Thimble Point Acquisition Corp (NASDAQ: THMA), a blank-check company backed by the Pritzker Vlock Family Office.
  • The newly combined Pear Holdings Corp. is expected to begin trading on the NASDAQ under the ticker PEAR.
  • Business Combination provides additional investment to invest in the commercialization of Pear’s three FDA-authorized products, advancing Pear’s pipeline of product candidates.
  • The deal will conclude in the 2H of 2021.
  • Price Action: THMA shares are up 1.80% at $9.88 during the market trading session on the last check Tuesday.

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