pharmaphorum December 6, 2021
Phil Taylor

Pear Therapeutics has completed its merger with blank cheque company Thimble Point Acquisition Corp, claiming a Nasdaq listing and raising $175 million in gross proceeds for the digital health specialist.

Pear will make its debut on the exchange today after combining with Thimble Point – a special purpose acquisition company (SPAC) – in a deal that sidestepped the conventional initial public offering (IPO) route and has propelled its valuation to around $1.6 billion.

SPAC mergers can provide a quicker route to a public market debut, something that can take months or years via the traditional IPO route. The SPAC goes public itself, ahead of buying the companies or assets it wants to develop with the funds raised during that process.

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