GIX - SPAC GigCapital2 raises funds for combined UpHealth-Cloudbreak telemedicine company to go public

Blank-check firm GigCapital2 (GIX) announces $285M capital raise as part of business combinations with UpHealth Holdings and Cloudbreak Health in telemedicine market. This capital raise includes the issue of 3M GigCapital2's shares at $10/share and $255M of 5-year convertible notes, which will bear an interest of 6.25% p.a. and are convertible into common shares of the combined company, UpHealth, at a conversion price of $11.50."Cloudbreak is a critical component in our mission-driven combination of industry leaders in digital health. This influx of capital is a step forward into what we’ve always promised: a single, integrated platform of best-in-class technologies and tech-enabled services essential to personalized, affordable, and effective care," says  Dr. Avi Katz, Founder of GigCapital Global and Chairman of GigCapital2. GIX up 3.23% premarket.Previously (Dec. 16, 2020): SPAC target Lightning eMotors unveils new electric van

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SPAC GigCapital2 raises funds for combined UpHealth-Cloudbreak telemedicine company to go public