Aiming to become the global leader in chip-scale photonic solutions by deploying Optical Interposer technology to enable the seamless integration of electronics and photonics for a broad range of vertical market applications

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What difference less than 2 years makes.

 

 

Chips supplier Rockley Photonics to go public in $1.2 bln SPAC deal

March 19, 2021 — 08:14 am EDT

Written by Manojna Maddipatla for Reuters ->

 

 
March 19 (Reuters) - Rockley Photonics Ltd said on Friday it would go public through a merger with blank-check company SC Health Corp SCPE.N in a deal valuing the silicon photonic chips supplier at a pro-forma enterprise value of $1.2 billion.

Pasadena, California-based Rockley's silicon photonics platform can be used in wearables including smartwatches and allows for continuous monitoring of biomarkers such as glucose levels, blood pressure and temperature.

The deal, which is expected to deliver up to $323 million in gross proceeds to the combined company, will help speed up the commercial launch of its platform, Rockley said.

The company said it was also partnering with clinicians and medical device makers to expand the application of its platform to improve disease detection and prevention.

 

Backed by an affiliate of investment firm SIN Capital, SC Health is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands.

Blank-check firms or SPACs are shell companies that raise capital through an initial public offering to buy a private firm.

Rockley's founder and chief executive officer (CEO), Andrew Rickman, will remain CEO and chairman of the combined company whose shares will trade on the NYSE under the symbol "RKLY".

Cowen and Company LLC is serving as the exclusive financial adviser to Rockley for the deal

 

RKLYQ

Rockley Photonics Holdings Limited

Ordinary Shares

0.04

-0.1524

-79.21%

0.04 / 0.045 (1 x 1)

Real-Time Best Bid & Ask: 03:49pm 01/25/2023
Delayed (15 Min) Trade Data: 12:00am 01/25/2023
 

Warning!  This company is in bankruptcy!

Click here to learn more about the bankruptcy reorganization process.

 

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