SCPE SC Health Corporation

By Michael Dabaie

Rockley Photonics Ltd. said it agreed to combine with special-purpose acquisition company SC Health Corp.

The transaction will result in Rockley becoming a publicly traded company on the New York Stock Exchange under the symbol RKLY and values the company at a pro forma enterprise value of $1.2 billion, the companies said. Rockley is a supplier of integrated silicon photonic chips and modules.

The companies said the deal will accelerate the commercial launch of Rockley's sensing platform, which enables monitoring of multimodal biomarkers such as lactate, glucose, hydration, blood pressure and core body temperature.

The companies said they expect the transaction to deliver up to $323 million of gross proceeds to the combined company, including the contribution of up to $173 million of cash held in SC Health's trust account.

The combination is supported by a $150 million private investment in public equity at $10.00 a share, with participation from Medtronic PLC and from institutional investors including Senvest Management LLC and UBS O'Connor, the companies said.

Existing Rockley shareholders will roll 100% of their equity into the combined company, the companies said. The deal is expected to close in the second quarter of 2021, the companies said.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

March 19, 2021 07:49 ET (11:49 GMT)

SC Health (NYSE:SCPE)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025

SC Health (NYSE:SCPE)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025