Hudson Executive (HEC) Shareholders Approve Talkspace Deal
by Marlena Haddad on 2021-06-17 at 12:27pm

Hudson Executive Investment Corp. (NASDAQ:HEC) shareholders announced in a press release today that its shareholders approved its combination with virtual behavioral healthcare company Talkspace at a special meeting earlier today.

The press release did not mention redemption amounts, but stated that 94.51% of the votes cast, representing approximately 74.05% of HEIC’s outstanding shares, voted to approve the business combination with Talkspace.

The parties now expect to close the deal June 22, after which its shares and warrants will trade on the Nasdaq under the symbols “TALK” and “TALKW,” respectively, on June 23.

It comes as no surprise that the virtual mental health provider did well during the COVID pandemic where many were faced with lockdowns and quarantine.   Talkspace delivered a strong Q1 2021 for operational and financial results as its net revenue grew by 144% year-over-year to $27.2 million.  Total active members grew by 110% during this same time period as individuals and employers’ attitudes shifted to focus on mental health. However, today’s meeting did not seem to settle well with investors as HEC plummeted over 5.7% to $9.23 following the announcement.

Hudson Executive and Talkspace initially inked its $1.4 billion deal on January 13. Talkspace connects users to licensed mental health care providers through a web and mobile platform and can also provide psychiatric services and prescription fulfillment.


ADVISORS

  • J.P. Morgan Securities LLC acted as lead financial advisor to Talkspace.
  • Jefferies acted as financial advisor to Talkspace.
  • Latham & Watkins LLP acted as legal counsel to Talkspace.
  • Citigroup Inc and J.P. Morgan Securities LLC acted as capital markets advisors and placement agents.
  • Citigroup acted as financial advisor to Hudson Executive Investment Corp.
  • Milbank LLP acted as legal counsel to Hudson Executive Investment Corp.
Recent Posts
by Nicholas Alan Clayton on 2024-03-28 at 1:35pm

News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...

by Nicholas Alan Clayton on 2024-03-28 at 7:47am

At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...

by Nicholas Alan Clayton on 2024-03-27 at 1:31pm

News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...

by Nicholas Alan Clayton on 2024-03-27 at 11:38am

Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...

by Nicholas Alan Clayton on 2024-03-27 at 7:33am

At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved