GigCapital2 Stockholders Approve Business Combinations with UpHealth Holdings, Inc. and Cloudbreak Health, LLC
PALO ALTO, CALIFORNIA & DELRAY BEACH, Florida & COLUMBUS, Ohio – (BUSINESS WIRE) – GigCapital2, Inc. (“GigCapital2”) (NYSE: GIX, GIX.U, GIX.RT, and GIX.WS) announced that its shareholders have approved all proposals related to the previously announced business combination with UpHealth Holdings, Inc. have agreed. (“UpHealth”) and Cloudbreak Health, LLC (“Cloudbreak”) at a special meeting of shareholders on June 4, 2021. Over 94.4% of the votes cast at the meeting representing approximately 65.7% of the outstanding shares of GigCapital2 have agreed to approve the business combinations. A Form 8-K containing the full voting results is expected to be filed with the Securities and Exchange Commission.
As previously announced, the business combinations will result in UpHealth and Cloudbreak each becoming a direct wholly-owned subsidiary of GigCapital2. GigCapital2 is renamed “UpHealth, Inc.” and its common shares and warrants are expected to trade on June 9, 2021 under the new symbols “UPH” and “UPH.WS” on the New York Stock Exchange. June 2021, each GigCapital2 unit will be broken down into its constituent parts consisting of one share of GigCapital2 -Common share, a warrant and a right to one twentieth of a GigCapital2 share, which will also be issued upon closing, and consequently both the shares and the rights will no longer be traded as separate securities.
About UpHealth Holdings, Inc.
UpHealth is a global, comprehensive digital health technology and technology-enabled service platform that enables providers, health systems and payers worldwide to manage care for people with complex medical, behavioral and social needs while dramatically improving access to primary care.
About Cloudbreak Health
Cloudbreak Health (www.cloudbreak.us) revolutionized patient and provider communication with the introduction of video remote interpreting (VRI) and established Cloudbreak as a pioneer in telemedicine technology. Cloudbreak Health continues to innovate with Cloudbreak Telehealth solutions including telepsychiatry, telestroke, telequarantine, remote patient monitoring and other specialties. Committed to bridging healthcare inequalities and enabling voice access at the point of care, Cloudbreak Health seamlessly integrates its Martti voice access solution with a variety of platforms including Epic, Zoom and Caregility. Cloudbreak Telehealth delivers more than 1.5 million minutes of telemedicine consultation each month to over 14,000 video endpoints in over 1,800 healthcare locations across the country. Cloudbreak Telehealth simplifies patient care by providers and provides them with a comprehensive continuum of care around the clock. Follow Cloudbreak on Twitter @cloudbreakhlth or the hashtag #HumanizeHealthcare.
About GigCapital Global and GigCapital2, Inc.
GigCapital Global (www.gigcapitalglobal.com) is a private-to-public equity (PPE) ™ investment group that sponsors and operates Special Purpose Acquisition Companies (“SPAC”, also known as Blank Check Companies). The 2017 by Dr. Avi Katz founded GigCapital Group and its sponsored SPACs are led by an affiliated team of technology professionals and employ a unique Mentor-Investors ™ methodology to partner with exceptional private and US and non-US public technology companies powered by dedicated, innovative entrepreneurs. The GigCapital Group companies provide financial, operational, and managerial mentoring to U.S. and global private and non-American public companies to help guide their path from founding and privately held to growth as a publicly traded company in. to accelerate USA The partnership of the GigCapital Group with these companies continues after the transition to a public company through an organic growth strategy and roll-up strategy. For more information, visit www.gigcapitalglobal.com.
GigCapital2, Inc. (NYSE: GIX, GIX.U, GIX.RT and GIX.WS) (www.gigcapital2.com), GigCapital4, Inc. (Nasdaq: GIG, GIGGU and GIGGW) and GigInternational1, Inc. (NASDAQ: GIWWU) are part of the GigCapital Group’s portfolio of private-to-public equity (PPE) ™ companies.
“Private-to-Public Equity (PPE)” and “Mentor-Investor” are trademarks of GigFounders, LLC used by agreement.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the business combination between GigCapital2 and UpHealth and Cloudbreak and the completion of those transactions as well Statements about our management team’s expectations, hopes, beliefs, intentions, plans, prospects, or strategies about the future, including possible business combinations, revenue growth and financial performance, product expansion, and services. All statements contained herein that are not historical facts may be viewed as forward-looking statements. In addition, all statements that relate to forecasts, forecasts or other characterizations of future events or circumstances, including the assumptions on which they are based, are forward-looking statements. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “can”, “could”, “plan”, “possible”, “potentially” ” predict, “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that any statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs of the management of GigCapital2, UpHealth and / or Cloudbreak in the light of their respective experiences and their perception of historical trends, current conditions and expected future developments and developments and their potential effects on UpHealth, Cloudbreak and GigCapital2, and other factors that you believe are reasonable in the circumstances. There can be no guarantee that future developments affecting UpHealth, Cloudbreak or GigCapital2 will correspond to the developments we expect. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties), or other assumptions that could cause actual results or performance to differ materially from those expressed or implied in these forward-looking statements. including regulatory approvals, the Company’s post-combination ability to meet NYSE listing standards, product and service acceptance, and that UpHealth has sufficient capital to operate as expected. Should one or more of these risks or uncertainties materialize or should our assumptions prove to be incorrect, the actual results may differ materially from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of GigCapital2’s filings with the SEC and in GigCapital2’s current and periodic reports, which are submitted from time to time at filed or submitted to the SEC. All forward-looking statements in this press release are based on information available to GigCapital2, UpHealth and / or Cloudbreak as of the date of this press release, and GigCapital2, UpHealth and / or Cloudbreak undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or for other reasons, unless required by applicable securities laws.