SoftBank and Novartis-backed digital therapeutics provider Pear has agreed a reverse merger at a $1.6bn pro forma equity valuation.
Pear Therapeutics, the US-based digital therapeutics developer backed by pharmaceutical firm Novartis and internet and telecommunications group SoftBank, agreed yesterday to list on the Nasdaq Capital Market through a reverse merger.
The company is joining forces with special purpose acquisition company Thimble Point Acquisition Corp, which floated on Nasdaq in a $240m initial public offering in February this year, at a pro forma equity value of approximately $1.6bn.
The transaction is supported by a $125m private investment in public…
