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Kinnevik AB (publ) ("Kinnevik") today announced that its portfolio company Babylon Health has entered into a definitive merger agreement with the special purpose acquisition company Alkuri Global Acquisition ....
Add one to the SPAC pile, London’s Babylon Health announces $4.2 billion merger with Alkuri Global Acquisition Corp. June 3rd, 2021. Just when you thought the SPAC had been played out, London-based healthtech Babylon confirms the rumours and announces its plan to go public via a $4.2 billion merger with Alkuri Global Acquisition Corp, formerly known as Ark Global Acquisition Corp. The transaction is expected to close in the second half of 2021, subject to approval by Alkuri Global’s shareholders and other normal closing conditions, including any applicable regulatory approvals. Babylon will list on the Nasdaq under the symbol BBLN. Babylon Health founder and CEO Dr. Ali Parsa will become the Chairman and CEO of the combined entity, with a representative from Alkuri Global joining the board. ....
Digital care company Babylon plans to go public with SPAC merger Sponsored Content Provided By Pfizer Digital care company Babylon plans to go public with SPAC merger Modern Healthcare Illustration / Getty Images The digital-first, value-based care company Babylon on Thursday said it plans to go public through a special purpose acquisition corporation merger with Alkuri Global Acquisition Corp. Babylon is one of many companies to jump on the burgeoning trend of partnering with a SPAC to hold an initial public offering. As of April 2021, SPACs have acquired companies and raised capital in 313 IPOs, in comparison to 248 IPOs throughout 2020, according to Statista. ....
Babylon chief Ali Parsa will have a 26pc stake Credit: Eddie Mulholland/Telegraph The founder of the virtual doctor app Babylon is set to join the ranks of Britain’s technology billionaires after the company announced a $4.2bn (£3bn) US listing. Ali Parsa, who founded Chelsea-based Babylon in 2013, is set to own a 26pc stake in the company, worth $1.1bn, when it completes a reverse merger with Alkuri Global, a New York-listed blank cheque company. It makes Babylon the latest UK tech start-up to shun the London Stock Exchange in favour of a “Spac” listing in America, where technology companies say they can achieve higher valuations. ....