ANTM - Falcon Capital Acquisition stock rises on merger agreement with Sharecare at $3.9B valuation

Sharecare to be listed on NASDAQ under the ticker symbol 'SHCR' after business combination with Falcon Capital Acquisition (FCAC) at an initial enterprise value of $3.9B. Created in 2010, Sharecare provides the messaging, motivation, management, and measurement tools to help individuals, workforces, and communities optimize their comprehensive well-being. Falcon Capital Acquisition is expected to own ~20% of the new company inclusive of the PIPE investors. The transaction is expected to be funded through a combination of Falcon's $345M of cash in trust supported by a $425M fully committed PIPE at $10/share and the Anthem investment.Anthem (ANTM) will make a direct investment in Sharecareand expand its strategic partnership as the Sharecare continues the development of products and services to enhance the healthcare experience. Upon closing, Sharecare will have ~$400M on its balance sheet to fund growth initiatives. The transaction is expected to close in 2Q21.FCAC shares up ~8% premarket.

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Falcon Capital Acquisition stock rises on merger agreement with Sharecare at $3.9B valuation