NEW YORK, Feb. 12, 2021 /PRNewswire/ -- Longview
Acquisition Corp. (NYSE: LGVW.U, 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.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Longview's and
Butterfly's actual results may differ from their expectations,
estimates and projections and consequently, you should not rely on
these forward-looking statements as predictions of future events.
Words such as "expect," "estimate," "project," "budget,"
"forecast," "anticipate," "intend," "plan," "may," "will," "could,"
"should," "believes," "predicts," "potential," "continue," and
similar expressions (or the negative versions of such words or
expressions) are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, Longview's and Butterfly's expectations with respect to
the expected closing of the Business Combination. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside Longview's and Butterfly's control and are difficult to
predict. Factors that may cause such differences include, but are
not limited to: (1) the ability of Longview and Butterfly prior to
the Business Combination, and New Butterfly following the Business
Combination, to meet the closing conditions in the Business
Combination Agreement; (2) the occurrence of any event, change or
other circumstances, including the outcome of any legal proceedings
that may be instituted against Longview and Butterfly following the
announcement of the Business Combination Agreement and the
transactions contemplated therein, that could give rise to the
termination of the Business Combination Agreement or could
otherwise cause the transactions contemplated therein to fail to
close; (3) the inability to obtain or maintain the listing of the
combined company's Class A common stock on the New York Stock
Exchange, as applicable, following the Business Combination; (4)
the risk that the Business Combination disrupts current plans and
operations as a result of the announcement and consummation of the
Business Combination; (5) the inability to recognize the
anticipated benefits of the Business Combination, which may be
affected by, among other things, competition and the ability of the
combined company to grow and manage growth profitably and retain
its key employees; (6) costs related to the Business Combination;
(7) changes in applicable laws or regulations; (8) the inability of
the combined company to raise financing in the future; (9) the
success, cost and timing of Butterfly's and the combined company's
product development activities; (10) the inability of Butterfly or
the combined company to obtain and maintain regulatory approval for
their products, and any related restrictions and limitations of any
approved product; (11) the inability of Butterfly or the combined
company to identify, in-license or acquire additional technology;
(12) the inability of Butterfly or the combined company to maintain
Butterfly's existing license, manufacturing, supply and
distribution agreements; (13) the inability of Butterfly or the
combined company to compete with other companies currently
marketing or engaged in the development of products and services
that Butterfly is currently marketing or developing; (14) the size
and growth potential of the markets for Butterfly's and the
combined company's products and services, and each of their ability
to serve those markets, either alone or in partnership with others;
(15) the pricing of Butterfly's and the combined company's products
and services and reimbursement for medical procedures conducted
using Butterfly's and the combined company's products and services;
(16) Butterfly's and the combined company's estimates regarding
expenses, future revenue, capital requirements and needs for
additional financing; (17) Butterfly's and the combined company's
financial performance; (18) the impact of COVID-19 on Butterfly's
business and/or the ability of the parties to complete the Business
Combination; and (19) other risks and uncertainties indicated from
time to time in the proxy statement/prospectus relating to the
Business Combination, including those under "Risk Factors" in the
Registration Statement on Form S-4, as amended, and in Longview's
other filings with the SEC.
Longview and Butterfly caution that the foregoing list of
factors is not exclusive. Longview and Butterfly caution readers
not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. Longview and Butterfly do not
undertake or accept any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
to reflect any change in its expectations or any change in events,
conditions or circumstances on which any such statement is
based.
Media Contact:
Longview Acquisition Corp.
John Rodin
info@longviewacquisition.com
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SOURCE Longview Acquisition Corp.