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Sharecare goes public via SPAC for its main with a side of M&A activityINTL

Sharecare goes public via SPAC for its main with a side of M&A activity

It’s been a busy week for digital healthcare company Sharecare, which announced plans to go public via a merger deal with the special purpose acquisition company Falcon Capital Acquisition Corp.

For those who don’t know, Sharecare was created by TV’s Dr Oz and WebMD’s ex-founder Jeff Arnold. The deal will be backed by investment banker Alan Mnuchin (who happens to be the brother of former US Treasury Secretary Steve Mnuchin), so this is truly a celebrity-filled event.

The new company, which will be listed on the Nasdaq under the ticker “SHCR”, is expected to hit a $3.9b valuation. The transaction is set to close in Q2 2021.

why it matters
As we’ve mentioned, taking a company public via an SPAC is a popular method nowadays due to the uptick in valuations. Sharecare follows in the footsteps of fellow health care companies that have listed through a blank check company, such as online therapy firm Talkspace.