GigCapital2, Inc. (“GigCapital2”) (NYSE: GIX), a Technology,
Media and Telecom (TMT) Private-to-Public Equity (PPE)™
corporation, today announced that its stockholders approved an
extension of the date by which it has to consummate a business
combination from March 10, 2021 to June 10, 2021. GigCapital2
requested the extension to allow more time to complete its
previously announced business combinations with UpHealth Holdings,
Inc. and Cloudbreak Health, LLC as it pertains solely to the
finalization of the S-4 documents filed with United States
Securities and Exchange Commission on February 8, 2021.
About GigCapital Global and GigCapital2, Inc.
GigCapital Global (www.gigcapitalglobal.com) is a
Private-to-Public Equity (PPE)™ investment group, sponsoring and
operating Special Purpose Acquisition Companies (“SPAC”, also known
as Blank-Check companies). Founded in 2017 by Dr. Avi Katz, the
GigCapital Group and its sponsored SPACs are led by an affiliated
team of technology industry experts, deploying a unique
Mentor-Investors™ methodology to partner with exceptional
privately-held and U.S. and non-U.S. public technology companies
led by dedicated, innovative entrepreneurs. The GigCapital Group
companies offer financial, operational and executive mentoring to
U.S. and global private, and non-U.S. public companies, in order to
accelerate their path from inception and as a privately-held entity
into the growth-stage as a publicly traded company in the U.S. The
partnership of the GigCapital Group with these companies continues
through an organic and roll-up strategy growth post the transition
to a public company. For more information, visit
www.gigcapitalglobal.com.
GigCapital2, Inc. (NYSE: GIX, GIX.U, GIX.RT, and GIX.WS)
(www.gigcapital2.com), GigCapital3, Inc. (NYSE: GIK, GIK.U and
GIK.WS) (www.gigcapital3.com) and GigCapital4, Inc. (Nasdaq: GIG,
GIGGU and GIGGW), are part of the GigCapital Group portfolio of
Private-to-Public Equity (PPE)™ companies.
“Private-to-Public Equity (PPE)” and “Mentor-Investor” are
trademarks of GigFounders, LLC, used pursuant to agreement.
About Cloudbreak Health LLC
Cloudbreak (www.cloudbreak.us) revolutionized patient and
provider communication with the introduction of video remote
interpreting (VRI), establishing Cloudbreak as a pioneer in
telehealth technology. Cloudbreak continues to innovate with
Cloudbreak Telehealth Solutions, including telepsychiatry,
telestroke, tele-quarantine, remote patient monitoring and other
specialties. Committed to overcoming healthcare disparities and
bringing language access to the point of care, Cloudbreak
seamlessly integrates their language access solution, Martti, into
a host of platforms, including Epic, Zoom, and Caregility.
Performing more than 1.6 million minutes of telemedicine
consultation each month in 2020 on over 14,000 video endpoints at
1,800+ healthcare locations nationwide, Cloudbreak Telehealth
simplifies how providers care for patients, putting a full care
continuum at their fingertips 24/7.
About UpHealth Holdings, Inc.
UpHealth (www.uphealthinc.com) is a global comprehensive digital
health technology and tech-enabled services platform (the
“Platform”) that empowers providers, health systems and payors
globally to manage care for people with complex medical, behavioral
and social needs, while dramatically improving access to primary
care. UpHealth owns Thrasys and BHS and almost half of Glocal, with
its acquisition of all or almost all of the remaining half pending
Indian regulatory approval expected prior to the closing of the
combination with GigCapital2. Following the combination, including
with Cloudbreak, UpHealth will be comprised of four service lines
that have been strategically selected to deliver patient and
provider-centric digital health technologies across the continuum
of care and provide a full complement of services for managing the
most challenging chronic conditions. The Platform improves patient
access to timely and personalized digital care by delivering a
complete set of care management tools, remote monitoring
applications, full-service ePharmacy delivery, behavioral health
solutions, and tech-enabled primary care. UpHealth is building its
services to provide a digital marketplace of healthcare services.
Following the combination, UpHealth will have offices in Delray
Beach, Salt Lake City, San Francisco, Los Angeles, Columbus, and
Kolkata.
Forward-Looking Statements
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 statements regarding our or our management
team’s expectations, hopes, beliefs, intentions, plans, prospects
or strategies regarding the future, including possible business
combinations, revenue growth and financial performance, product
expansion and services. Any statements contained herein that are
not statements of historical fact may be deemed to be
forward-looking statements. In addition, any statements that refer
to projections, forecasts or other characterizations of future
events or circumstances, including any underlying assumptions, are
forward-looking statements. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intends,” “may,”
“might,” “plan,” “possible,” “potential,” “predict,” “project,”
“should,” “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. The forward-looking
statements contained in this press release are based on our current
expectations and beliefs made by the management of GigCapital2,
UpHealth and/or Cloudbreak in light of their respective experience
and their perception of historical trends, current conditions and
expected future developments and their potential effects on
UpHealth, Cloudbreak and GigCapital2 as well as other factors they
believe are appropriate in the circumstances. There can be no
assurance that future developments affecting UpHealth, Cloudbreak
or GigCapital2 will be those that we have anticipated. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond the control of the parties) or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by these
forward-looking statements, including that the GigCapital2
stockholders will approve the business combinations, regulatory
approvals, the ability of the post-combination company to meet the
NYSE listing standards, product and service acceptance, and that
UpHealth will have sufficient capital upon the approval of the
transaction to operate as anticipated. Should one or more of these
risks or uncertainties materialize, or should any of our
assumptions prove incorrect, actual results may vary in material
respects 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 filed or furnished from time to time with the
SEC. All forward-looking statements in this press release are made
as of the date hereof, based on information available to
GigCapital2, UpHealth and/or Cloudbreak as of the date hereof, and
GigCapital2, UpHealth and/or Cloudbreak assumes no obligation to
update any forward-looking statement, whether as a result of new
information, future events or otherwise, except as may be required
under applicable securities laws.
Additional Information and Where to Find It
In connection with the proposed business combinations,
GigCapital2 has filed a registration statement on Form S-4 with the
SEC containing a preliminary proxy statement and a preliminary
prospectus of GigCapital2, and after the registration statement is
declared effective, GigCapital2 will mail a definitive proxy
statement/prospectus relating to the proposed business combinations
to its stockholders. This press release does not contain all the
information that should be considered concerning the proposed
business combinations and is not intended to form the basis of any
investment decision or any other decision in respect of the
business combinations. Additional information about the proposed
business combinations and related transactions is described in
GigCapital2’s Current Report on Form 8-K and combined proxy
statement/prospectus relating to the proposed business combinations
and the respective businesses of GigCapital2 and UpHealth and
Cloudbreak that GigCapital2 has filed with the SEC. The proposed
business combinations and related transactions will be submitted to
stockholders of GigCapital2 for their consideration. GigCapital2’s
stockholders and other interested persons are advised to read the
preliminary proxy statement/prospectus and the amendments thereto
and the definitive proxy statement/prospectus, when available, and
other documents filed in connection with GigCapital2’s solicitation
of proxies for its special meeting of stockholders to be held to
approve, among other things, the proposed business combinations and
related transactions, because these materials will contain
important information about UpHealth , Cloudbreak, GigCapital2 and
the proposed business combinations and related transactions. When
available, the definitive proxy statement/prospectus and other
relevant materials for the proposed business combinations will be
mailed to stockholders of GigCapital2 as of a record date to be
established for voting on the proposed business combinations and
related transactions.
Stockholders may also obtain a copy of the preliminary or
definitive proxy statement/prospectus, once available, as well as
other documents filed with the SEC by GigCapital2, without charge,
at the SEC’s website located at www.sec.gov or by directing a
request to Brad Weightman, Vice President and Chief Financial
Officer, GigCapital2, Inc., 1731 Embarcadero Rd., Suite 200, Palo
Alto, CA 94303, or by telephone at (650) 276-7040.
Participants in the Solicitation
UpHealth, Cloudbreak, GigCapital2 and their respective directors
and executive officers and other persons may be deemed to be
participants in the solicitations of proxies from GigCapital2’s
stockholders in respect of the proposed business combinations and
related transactions. Information regarding GigCapital2’s directors
and executive officers is available in its Form 10-K filed with the
SEC on March 30, 2020. Additional information regarding the
participants in the proxy solicitation and a description of their
direct and indirect interests will be contained in the preliminary
and definitive proxy statements/prospectus related to the proposed
business combinations and related transactions when it becomes
available, and which can be obtained free of charge from the
sources indicated above.
No Offer or Solicitation
This communication shall neither constitute an offer to sell or
the solicitation of an offer to buy any securities, nor shall there
be any sale of securities in any jurisdiction in which the offer,
solicitation, or sale would be unlawful prior to the registration
or qualification under the securities laws of any such
jurisdiction.
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version on businesswire.com: https://www.businesswire.com/news/home/20210310005860/en/
Brian Ruby, ICR, brian.ruby@icrinc.com
GigCapital2 (NYSE:GIX)
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