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Playing Big: Akili To Be Bought By Chamath Palihapitiya’s SPAC In $1Bn Deal

 
• By Marion Webb

Akili Interactive, which developed a video game to treat ADHD, will go public with one of Palihapitiya’s blank-check companies. The proceeds will be used to launch the FDA-cleared EndeavorRx digital therapeutics.

SPACs
• Source: Alamy

Akili Interactive Labs, which developed the first prescription-only video-game-based platform to be cleared for marketing by the US Food and Drug Administration, announced on 26 January it plans to go public through a merger with Social Capital Suvretta Holdings Corp I., a special purpose acquisition company (SPAC) led by Chamath Palihapitiya as CEO.

The merger values the combined company at about $1bn and will provide Akili with up to $412m in gross cash proceeds, the companies said. The proceeds consist of the $250m the blank-check company raised in its initial public offering and $162m from private investment in public equity investors at $10 a share, of which $100m is from Social Capital

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