The Applied Materials and Hengtong Optic-Electric-backed photonic chipset developer will be valued at $1.2bn once the transaction closes.
Rockley Photonics, the US-based silicon photonic chipmaker backed by corporates Applied Materials and Hengtong Optic-Electric, agreed a reverse merger with special purpose acquisition company SC Health Corp on Friday.
The merged company will acquire the listing on the New York Stock Exchange taken by SC Health through a $150m initial public offering in July 2019. The deal gives it a pro forma enterprise valuation of $1.2bn.
Medical device maker Medtronic is joining investors including Senvest Management and UBS O’Connor…
