Hyperfine Inc. has completed its business combination with HealthCor Catalio Acquisition Corp. (Nasdaq: HCAQ), securing approximately $160 million in gross cash proceeds. This funding aims to accelerate the growth initiatives for its Swoop® portable MRI system, designed to enhance patient access to MRI technology. Trading under the ticker HYPR will commence on December 23, 2021. Hyperfine focuses on transforming medical imaging with Swoop, aiming to expand both domestically and internationally while addressing healthcare disparities.
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Hyperfine and Liminal announced a definitive agreement for a business combination with HealthCor Catalio Acquisition Corp (Nasdaq: HCAQ). This merger creates a combined company valued at approximately $580 million, with expected cash resources around $375 million. The transaction aims to enhance accessibility and affordability in MRI imaging through Hyperfine's FDA-cleared Swoop™ device and Liminal's brain monitoring innovations. The merger is anticipated to close in Q4 2021, pending shareholder approvals and customary conditions.
HealthCor Catalio Acquisition Corp. has successfully closed its upsized initial public offering of 20,700,000 Class A ordinary shares at $10.00 per share, raising a total of $207 million in gross proceeds. The offering, which included 2,700,000 shares from the underwriter's over-allotment, commenced trading on the Nasdaq Capital Market under the ticker symbol HCAQ on January 27, 2021. The company is backed by HealthCor Management and Catalio Capital Management, focusing on breakthrough biomedical technologies.
HealthCor Catalio Acquisition Corp. has announced the pricing of its upsized initial public offering, offering 18 million Class A ordinary shares at $10.00 per share. The sponsor, associated with HealthCor Management, manages approximately $2.7 billion in healthcare assets. The IPO is slated to commence trading on the Nasdaq under the ticker symbol 'HCAQ' starting January 27, 2021. Jefferies LLC serves as the sole book-running manager and has a 45-day option to purchase an additional 2.7 million shares. The offering is subject to customary closing conditions and expected to close on January 29, 2021.