LGVW Merges with Butterfly Network - details
Longview Acquisition Corp. Stockholders Approve Business Combination with Butterfly Network, Inc.
NEW YORK, Feb. 12, 2021 /PRNewswire/ -- Longview Acquisition Corp. (NYSE:LGVW, LGVW, LGVW WS)))) , a special purpose acquisition company sponsored by an affiliate of Glenview Capital Management, LLC, announced today that its stockholders voted to approve the proposed business combination with Butterfly Network, Inc. with nearly 100% of the shares of Longview voted at the Special Meeting in favor of the business combination proposal. A total of six proposals were considered and approved by stockholders at the Special Meeting on February 12, 2021. A Form 8-K disclosing the full voting results will be filed with the Securities and Exchange Commission on February 16, 2021.
Additionally, the deadline for electing redemptions has passed and Longview will have approximately $589 million in cash prior to the business combination, which includes $175 million to be received in the previously announced private placement, which is expected to close concurrently with the business combination.
With this successful stockholder vote the proposed business combination is expected to close shortly. Following the closing, the combined company will be renamed Butterfly Network, Inc. and trade on the New York Stock Exchange under the ticker symbol "BFLY".
"We would like to thank the shareholders of Longview for their partnership and confidence in us since our May 20, 2020 IPO," said John Rodin, CEO of Longview. "We are proud to bring together financial and human capital, industry expertise, connectivity and an extraordinary growth company to significantly accelerate medical innovation, raise the standard of care, reduce cost and improve wellness through Butterfly, the New Image of Health."
"We are grateful to Dr. Jonathan Rothberg and the team of brilliant scientists who invested nine years to create and perfect Ultrasound-on-a-Chip, bringing true mobility, accessibility and broad utility to medical imaging," said Larry Robbins, Chairman of Longview. "We thank Butterfly and Jonathan for their confidence and trust in partnering with Longview as their accelerator, and we are excited to lock arms with the medical community to deliver professionals and patients powerful and affordable tools to promote wellness and healing."
About Longview Acquisition Corp.
Longview was formed to partner with high-quality, growing companies to facilitate their successful entry to the public markets. Longview is sponsored by an affiliate of Glenview Capital Management, a registered investment adviser with a track record of creating value through constructive partnerships with companies operating in the public markets.
About Butterfly Network
Founded by Dr. Jonathan Rothberg in 2011, Butterfly has created the world's first handheld, single-probe whole-body ultrasound system, Butterfly iQ. Butterfly Network's mission is to enable universal access to superior medical imaging, making high-quality ultrasound affordable, easy-to-use, globally accessible, and intelligently connected, including for the 4.7 billion people around the world lacking access to ultrasound. Through its proprietary Ultrasound-On-Chip™ technology, Butterfly Network is paving the way for earlier detection and remote management of health conditions around the world. The Butterfly iQ can be purchased online today by healthcare practitioners in the United States, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.
