GigCapital2, Inc. (“GigCapital2”) (NYSE: GIX, GIX.U, GIX.RT, and
GIX.WS) announced that its stockholders approved all proposals
related to the previously announced business combinations with
UpHealth Holdings, Inc. (“UpHealth”) and Cloudbreak Health, LLC
(“Cloudbreak”) at a special meeting of stockholders held on June 4,
2021. More than 94.4% of the votes cast at the meeting,
representing approximately 65.7% of GigCapital2’s outstanding
shares, voted to approve the business combinations. A Form 8-K
disclosing the full voting results is expected to be filed with the
Securities and Exchange Commission.
As announced previously, the business combinations will result
in each of UpHealth and Cloudbreak becoming a direct wholly-owned
subsidiary of GigCapital2. GigCapital2 will be renamed “UpHealth,
Inc.” and its common stock and warrants are expected to begin
trading on the New York Stock Exchange under the new symbols “UPH”
and “UPH.WS”, respectively, on June 9, 2021. At the closing of the
business combinations, which is expected to take place on June 8,
2021, each GigCapital2 unit will separate into its components
consisting of one share of GigCapital2 common stock, one warrant,
and a right for one-twentieth of a share of GigCapital2 stock that
will also be issued at the closing, and, as a result, both the
units and the rights will no longer trade as separate
securities.
About UpHealth Holdings, Inc.
UpHealth is a global comprehensive digital health technology and
tech-enabled services platform that empowers providers, health
systems and payors globally to manage care for people with complex
medical, behavioral and social needs, while dramatically improving
access to primary care.
For more information, please visit https://uphealthinc.com and
follow us at @UphealthInc on Twitter, UpHealth Inc. on LinkedIn and
@uphealthinc on Instagram.
About Cloudbreak Health
Cloudbreak Health (www.cloudbreak.us) revolutionized patient and
provider communication with the introduction of video remote
interpreting (VRI), establishing Cloudbreak as a pioneer in
telehealth technology. Cloudbreak Health continues to innovate with
Cloudbreak Telehealth Solutions, including telepsychiatry,
telestroke, tele-quarantine, remote patient monitoring and other
specialties. Committed to overcoming healthcare disparities and
bringing language access to the point of care, Cloudbreak Health
seamlessly integrates their language access solution, Martti, into
a host of platforms, including Epic, Zoom, and Caregility.
Performing more than 1.5 million minutes of telemedicine
consultation each month on over 14,000 video endpoints at 1,800+
healthcare locations nationwide, Cloudbreak Telehealth simplifies
how providers care for patients, putting a full care continuum at
their fingertips 24/7. Follow Cloudbreak on Twitter @cloudbreakhlth
or the hashtag #HumanizeHealthcare.
About GigCapital Global and GigCapital2, Inc.
GigCapital Global (www.gigcapitalglobal.com) is a
Private-to-Public Equity (PPE)™ investment group, sponsoring and
operating Special Purpose Acquisition Companies (“SPAC”, also known
as Blank-Check companies). Founded in 2017 by Dr. Avi Katz, the
GigCapital Group and its sponsored SPACs are led by an affiliated
team of technology industry experts, deploying a unique
Mentor-Investors™ methodology to partner with exceptional
privately-held and U.S. and non-U.S. public technology companies
led by dedicated, innovative entrepreneurs. The GigCapital Group
companies offer financial, operational and executive mentoring to
U.S. and global private, and non-U.S. public companies, in order to
accelerate their path from inception and as a privately-held entity
into the growth-stage as a publicly traded company in the U.S. The
partnership of the GigCapital Group with these companies continues
through an organic and roll-up strategy growth post the transition
to a public company. For more information, visit
www.gigcapitalglobal.com.
GigCapital2, Inc. (NYSE: GIX, GIX.U, GIX.RT, and GIX.WS)
(www.gigcapital2.com), GigCapital4, Inc. (Nasdaq: GIG, GIGGU and
GIGGW), and GigInternational1, Inc. (NASDAQ: GIWWU) are part of the
GigCapital Group portfolio of Private-to-Public Equity (PPE)™
companies.
“Private-to-Public Equity (PPE)” and “Mentor-Investor” are
trademarks of GigFounders, LLC, used pursuant to agreement.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including the business combination between GigCapital2 and
each of UpHealth and Cloudbreak and the closing of those
transactions, and statements regarding our management team’s
expectations, hopes, beliefs, intentions, plans, prospects or
strategies regarding the future, including possible business
combinations, revenue growth and financial performance, product
expansion and services. Any statements contained herein that are
not statements of historical fact may be deemed to be
forward-looking statements. In addition, any statements that refer
to projections, forecasts or other characterizations of future
events or circumstances, including any underlying assumptions, are
forward-looking statements. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intends,” “may,”
“might,” “plan,” “possible,” “potential,” “predict,” “project,”
“should,” “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. The forward-looking
statements contained in this press release are based on our current
expectations and beliefs made by the management of GigCapital2,
UpHealth and/or Cloudbreak in light of their respective experience
and their perception of historical trends, current conditions and
expected future developments and their potential effects on
UpHealth, Cloudbreak and GigCapital2 as well as other factors they
believe are appropriate in the circumstances. There can be no
assurance that future developments affecting UpHealth, Cloudbreak
or GigCapital2 will be those that we have anticipated. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond the control of the parties) or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by these
forward-looking statements, including regulatory approvals, the
ability of the post-combination company to meet the NYSE listing
standards, product and service acceptance, and that UpHealth will
have sufficient capital to operate as anticipated. Should one or
more of these risks or uncertainties materialize, or should any of
our assumptions prove incorrect, actual results may vary in
material respects from those projected in these forward-looking
statements. Additional factors that could cause actual results to
differ are discussed under the heading “Risk Factors” and in other
sections of GigCapital2’s filings with the SEC, and in
GigCapital2’s current and periodic reports filed or furnished from
time to time with the SEC. All forward-looking statements in this
press release are made as of the date hereof, based on information
available to GigCapital2, UpHealth and/or Cloudbreak as of the date
hereof, and GigCapital2, UpHealth and/or Cloudbreak assumes no
obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise, except as
may be required under applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20210604005605/en/
For GigCapital2: Brian Ruby,
ICR, Brian.ruby@icrinc.com For
UpHealth Investors: Reed Anderson,
reed.anderson@icrinc.com, +1 612-710-8617 Media: Sean Leous,
sean.leous@westwicke.com, + 1 646-866-4012
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