Longview Acquisition Corp (LGVW)

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Why Longview Acquisition Stock Popped Today
A prominent fund manager has initiated a position in the special purpose acquisition company.
Nov 24, 2020 at 2:13PM

What happened
Shares of Longview Acquisition (NYSE:LGVW) have popped today, up by 16% as of 1:15 p.m. EST, after ARK Invest bought approximately 460,000 shares for its Ark Genomic Revolution ETF (NYSEMKT:ARKG). Longview Acquisition is a special purpose acquisition company (SPAC) that recently announced that it is merging with Butterfly Network, which makes a portable ultrasound device and accompanying app.

Now what
Along with the merger, Longview is looking to raise an additional $175 million from investors as part of a private investment in public equity (PIPE) deal. Longview currently has $414 million in cash. Butterfly is attempting to disrupt an $8 billion addressable market with its ultrasound technology platform, which will provide low-cost medical imaging.

The merger is expected to close in the first quarter of 2021.
https://www.fool.com/investing/2020/11/24/why-longview-acquisition-stock-popped-today/
https://www.forbes.com/sites/jamessomauroo/2019/09/27/butterfly-a-125-billion-heathtech-company-launches-new-ultrasound-technology-in-the-uk/?sh=7662721da3f0