Longview Acquisition Corp (LGVW)

[srm4u]

Longview Acquisition (LGVW)

Robbins’s Longview Tapped by Ultrasound Startup for SPAC
By Bailey Lipschultz
November 20, 2020, 5:00 AM MST Updated on November 20, 2020, 7:46 AM MST

The merger will unite a who’s-who list of investors ranging from Butterfly backers like Baillie Gifford and the Bill and Melinda Gates Foundation with Robbins’s Glenview Capital Management. Robbins will join the company’s board with Longview and its affiliates expected to own 7.6% of the company.

A Gates Foundation-backed maker of a pocket-sized ultrasound device that can plug into a smartphone is going public through a reverse merger with Larry Robbins’s Longview Acquisition Corp. in a deal that values the company at $1.5 billion.

The transaction is expected to provide Butterfly Network Inc. with more than $580 million in cash, including up to $414 million held in Longview’s trust, assuming early investors choose not to redeem. The capital is expected to help ramp up sales of its Butterfly iQ, the hand-held ultrasound device that costs roughly $2,000. Butterfly, which has been selling the device for two years, says the deal will help accelerate sales around the world.
https://www.bloomberg.com/news/articles/2020-11-20/robbins-s-longview-tapped-by-ultrasound-startup-for-spac-merger